K. SELVARAJ Vs. V. THANGAVELU

JUDGEMENT

(1.) This Second Appeal has been filed praying to set aside the Judgment and Decree, dated February 17, 2020, made in A.S. No.25 of 2016 on the file of the 'Additional District Judge, Namakkal District' (henceforth 'First Appellate Court'), whereby the Judgment and Decree, dated November 4, 2015 made in O.S.No.40 of 2011 on the file of 'Subordinate Court, Namakkal District' (henceforth 'Trial Court') was confirmed.

(2.) The Defendant, who was unsuccessful before the Trial Court as well as the First Appellate Court, has preferred this Second Appeal. For the sake of convenience, hereinafter, the parties herein will be denoted as per their array in the Original Suit.

(3.) The case of the Plaintiff is that on August 11, 2008 the Defendant borrowed a sum of Rs.1,50,000.00 (Rupees One Lakh Fifty Thousand only) from the Plaintiff for urgent family and business expenses by executing a Promissory Note. The Defendant agreed to repay the Loan amount together with Interest at the rate of 12% per annum to the Plaintiff. Despite repeated demands, the Defendant did not repay the Principal amount and the Interest to the Plaintiff. Hence, the Plaintiff filed the Suit for recovery of money with Interest at the rate of 12% per annum.