PARAMASIVA CHETTIAR Vs. VENUGOPAL NAIDU

JUDGEMENT

(1.) THE plaintiff is the appellant in this appeal against the judgment and decree in O.S.No. 383 of 1979 on the file of Sub-Court, Cuddalore. THE suit is for recovery of a sum of Rs.14,538 due on the suit promissory note Ex.A-1, dated 30-7-1970 with future interest from the date of the suit on the principal sum of Rs.7,000 at the rate of 12 per cent per annum stipulated in the second promissory note. Admittedly, the defendant made payment of Rs.5 on 27-7-1973 and another sum of Rs.5 on 25-7-1979 towards the promissory note sum and made endorsements thereof accordingly.

(2.) THE defendant filed written statement admitting the execution of the promissory note but contending that the suit promissory note was executed as renewal of an earlier promissory note dated 3-8-1967 executed by him in favour of the plaintiff's wife for a sum of Rs.2,750 that calculating compound interest on the said promissory note, an aggregate sum of Rs.6,800 was arrived at, that on pressure by the plaintiff, the suit promissory note was executed for Rs.7,000 and that there was no additional payment of Rs.200 by the plaintiff to the defendant at the time of executing the suit promissory note. THE defendant also pleaded that he was entitled tothe benefits of Tamil Nadu Agriculturists Relief Act (Act IV of 1938 as amended by Act 8 of 1973). THE defendant expressly stated in the written statement that he was willing to pay the principal and actual interest due on the original promissory note executed in favour of the plaintiff's wife after scaling down the same under the above said Act and that the plaintiff was not entitled to claim interest upto 1-3-1972, nor at the rate of 12 per cent per annum.

(3.) THE points for determination are: