S. MURUGESAN Vs. P.SUGUNA

JUDGEMENT

(1.) This Appeal Suit is filed by the appellant/plaintiff under Sec. 96 of the Code of Civil Procedure, challenging the judgment and decree dtd. 21/8/2018 passed in O.S. No.98 of 2015 on the file of the I Additional District Judge, Tiruppur, whereby the suit for recovery of money was dismissed.

(2.) For the sake of convenience, the parties are referred to in this judgment in the same rank as they were arrayed before the Trial Court.

(3.) The case of the plaintiff is that the defendant borrowed a sum of Rs.10,00,000.00 on 27/7/2012 for business purposes and, towards repayment of the said loan, executed an on-demand promissory note dtd. 27/7/2012 in favour of the plaintiff, agreeing to repay the amount with interest at the rate of 1% per month. As security for the loan, the defendant allegedly handed over the original settlement deed dtd. 31/1/2005 executed by her father in her favour. According to the plaintiff, despite repeated demands, the defendant failed to repay either the principal or the interest. Hence, the plaintiff issued a legal notice dtd. 24/4/2015, which was received by the defendant on 28/4/2015. As there was no reply or payment, the suit came to be filed.