KUPPUSAMY GOUNDER Vs. PERUMAL

JUDGEMENT

(1.) The plaintiff, who lost before both the Courts below is the appellant herein. The defendant before the Courts below is the respondent herein.

(2.) The appellant/plaintiff instituted a suit in O.S.No.64 of 2008 on the file of the Principal Subordinate Judge, Tindivanam for recovery of money directing the respondent/defendant to pay a sum of Rs. 2,13,792/- due on Promissory Notes 'A' and 'B', dated 10.06.2005 with subsequent interest and costs from the date of plaint till the date of realization.

(3.) It is the case of the appellant/plaintiff that on 10.06.2005, the respondent/defendant borrowed a sum of Rs. 1,26,400/- from the appellant/plaintiff and in lieu of that debt, he executed plaint 'A' promissory Note, agreeing to repay the amount with interest at 12% per annum to the plaintiff. Also, on the same date, the respondent/defendant borrowed a sum of Rs. 30,800/- from the plaintiff's wife Vanaja Ammal and in lieu of that debt, he executed plaint 'B' promissory note agreeing to repay the principal amount with interest at 12% per annum. Since the respondent/defendant failed to repay the principal amount and interest, on 01.06.2008, the appellant/plaintiff, by paying the consideration amount, made over the plaint 'B' promissory note in his favour. Since the respondent/defendant failed to satisfy the amount borrowed on the basis of 'A' and 'B' promissory notes despite demand, the appellant/plaintiff instituted a suit against him.