K.RANGAN Vs. N.SHIVARAJ

JUDGEMENT

(1.) This appeal is directed against the judgment and decree dtd. 12/12/2012 made in O.S.No.51 of 2009 on the file of the I Additional District Judge(PCR)(FAC), Tiruchirappalli.

(2.) The sixth defendant in the suit is the appellant herein. The suit was filed by respondents 1 and 2 herein for passing preliminary mortgage decree declaring the amount due under the suit mortgage with interest and for directing the defendants to pay the said amount to the plaintiffs on or before the date to be fixed by the Court and in default to pass final decree for the sale of the suit property.

(3.) The case of the plaintiffs is that the deceased Muthuramalinga Rathinavelu Chettiar and his son M.Natarajan(4th defendant) approached the plaintiffs and borrowed a sum of Rs.6,50,000.00 on 18/4/2005. They executed Ex.A.1 promissory note dtd. 18/4/2005 undertaking to repay the said amount with interest at 24% p.a. The promissory note was executed by the deceased Muthuramalinga Rathinavelu Chettiar and the fourth defendant M.Natarajan. It was attested by the other two sons, namely, defendants 2 and 3. Two days later, Muthuramalinga Rathinavelu Chettiar came to the plaintiffs- house and deposited the title document (Ex.A.3 dtd. 26/7/1970) with an intention to create an equitable mortgage by deposit of title deeds. He also executed Ex.A.2 memorandum of deposit of title deeds dtd. 20/4/2005. Ex.A.2 was also attested by defendants 2 and 4.