K. RANGASAMY Vs. K. DEVARAJ

JUDGEMENT

(1.) This Second Appeal had been filed to set aside the Judgment and Decree dtd. 26/11/2012 made in A.S. No. 2 of 2012 on the file of the learned District Judge, Nilgiris, reversing the Judgment and Decree dtd. 8/11/2011 passed in O.S. No. 36 of 2007 on the file of the learned Sub Judge, Nilgiris, Udhagamandalam.

(2.) The Defendant in O.S. No. 36 of 2007 on the file of Sub Court, The Nilgiris, Udhagamandalam is the Appellant in this appeal. The Respondent herein has filed the said suit in O.S. No. 36 of 2007 for recovery of a sum of Rs.1,72,000.00 due and payable on the suit promissory note.

(3.) As per the plaint averments, the Plaintiff and Defendant are residing at Uthagamandalam, Nilgiris District. On 20/4/2004, the Defendant approached the Plaintiff, borrowed Rs.1,00,000.00 and executed the Suit promissory note agreeing to repay the said amount with interest at 24% p.a. However, after receipt of the amount, the Defendant neither paid the principal or interest inspite of repeated demands made by the Plaintiff. Therefore, on 28/4/2005, the Plaintiff issued a legal notice dtd. 28/4/2005 calling upon the Defendant to pay the principal sum of Rs.1,00,000.00 together with interest. Even thereafter, the Defendant has not repaid the principal and interest amount. Therefore, the Suit was filed for recovery of a sum of Rs.1,72,000.00.