A KANNIVEL CHETTIAR Vs. M K GOVINDARAJA MUDALIAR

JUDGEMENT

(1.) THE unsuccessful defendant, who lost the case before the courts below, is the appellant herein. The respondent herein has filed a suit in O. S. No. 179 of 1997 for recovery of Rs. 50,000/- based on a pronote dated 22. 10. 1994 and the same was decreed. The appeal preferred by the appellant herein before the Additional District Judge, Fast Track Court No. 2, Kancheepuram in A. S. No. 29 of 2002 was also dismissed, hence, the present second appeal.

(2.) THIS second appeal has not been admitted and it stands at the stage of 'notice of motion' and now it is taken up for final disposal. For the sake of convenience, the parties to the proceedings shall be referred according to their rank in this second appeal.

(3.) THE case of the respondent herein is that the appellant borrowed a sum of Rs. 50,000/- from him and executed a pronote, Ex. A2 dated 22. 10. 1994, agreeing to repay the said amount with interest at the rate of 36% per annum. The said amount was paid by way of cash by the respondent. The appellant is a rice mill owner, who borrowed the said loan for his business. Inspite of repeated demands made by the respondent, the appellant did not pay the amount, hence, notice dated 22. 05. 1997, Ex. A3 was issued. The appellant had received the same which is evident from Ex. A4. Even after receipt of the said notice, the appellant has not paid any amount and hence the suit was filed.