S. BALACHANDAR Vs. N. PALANISAMY

JUDGEMENT

(1.) This appeal has been directed against the impugned judgment and decree dated 30.06.2011 decreeing the money suit against the appellant defendant directing him to pay a sum of Rs.17,78,000/- together with interest at the rate of 9% per annum on the principal sum of Rs.14,00,000/- from the date of plaint till the date of decree.

(2.) Mr.S.Parthasarathy, learned senior counsel appearing for the appellant defendant, assailing the impugned judgment, pleaded that the Trial Court has committed error in coming to the conclusion that the appellant defendant has admitted the execution of the document and the borrowal. Based on such erroneous conclusion, the Trial Court has completely lost sight of the evidence of DW1, the appellant herein, who had categorically denied the execution of 14 promissory notes on 05.07.2000 and also borrowal of Rs.14,00,000/-.

(3.) Learned counsel appearing for the respondent submitted that when the appellant defendant is a neighbour of the respondent plaintiff and carrying on his dairy business in the name and style of 'Vangal Dairy', the appellant defendant had borrowed a sum of Rs.14,00,000/- from the respondent plaintiff on 05.07.2000 for his family and business expenses and executed 14 promissory notes in favour of the respondent plaintiff, agreeing to repay the said amount with interest at the rate of 9% per annum either to the respondent plaintiff or to his order. At the request of the appellant defendant, the respondent plaintiff had granted some more time for making payment on his convenience. Though 14 promissory notes were executed, he evaded from making any payment. Finally, finding that there is no response from the appellant defendant and he has been postponing the payment on one pretext or other, the respondent plaintiff filed the above suit in O.S. No.232 of 2004 on the file of the Principal District Judge, Namakkal seeking a money decree with a direction to the appellant defendant to pay a sum of Rs.17,78,000/- along with interest at the rate of 9% from the date of suit till the date of realisation and also costs of the suit. Surprisingly, the appellant defendant filing the written statement, denied the very borrowal of Rs.14,00,000/- on 05.07.2000 from the respondent plaintiff. In paragraph 6 of the written statement, the appellant defendant has clearly admitted the fact that the respondent plaintiff has lent a sum of Rs.6,00,000/- to the appellant defendant by getting his signature in six blank unfilled promissory notes.