B.MUTHUVADIVELAND Vs. SREE KARTHICK

JUDGEMENT

(1.) The Appellants are the legal heirs of the deceased first defendant in the suit filed for recovery of money arising on a mortgage loan.

(2.) The plaintiffs had laid a suit based on the registered mortgage deed dtd. 5/9/2014 executed by the first defendant (since deceased) for the loan of Rs.9,00,000.00 borrowed on the same day, with an undertaking to clear the loan within 24 months with interest at the rate of 18% per annum.

(3.) On failure to discharge the loan amount, the plaintiffs caused legal notice on 31/5/2017 calling upon the first defendant to repay the loan with interest. The defendant received the notice on 10/6/2014, but neither reply, nor repay the mortgage amount due to the plaintiffs. Hence, the suit.