A VENKATESAN Vs. B JAREENA

JUDGEMENT

(1.) Second Appeal is filed against the judgment and decree dated 22.03.2011 made in A.S.No.305 of 2010 on the file of II Additional City Civil Court, Chennai, confirming the judgment and decree dated 26.03.2008 made in O.S.No.6230 of 2003 on the file of XVI Assistant City Civil Court, Chennai.

(2.) The defendant, who lost before both the Courts below, is the appellant herein and he appeared as party-in-person. The respondent filed O.S.No.6230 of 2003 for recovery of a sum of Rs. 4,37,500/- together with interest at 12% per annum on the principal sum of Rs. 3,50,000/- from the date of plaint till the date of realisation, on failure of appellant paying amounts to create a charge over the plaint schedule property and order sale of the suit property for realisation of decretal amounts and costs.

(3.) According to the respondent, the appellant introduced himself as a film producer and borrowed a sum of Rs. 3,50,000/- from the respondent on 17.05.2001. He executed three promissory notes for Rs. 1,00,000/- each and promised to execute another promissory note for Rs. 50,000/- later. The appellant created a mortgage by deposit of title deeds on 24.08.2001 with respect to his property described in the schedule to the plaint as security for the repayment of the amounts borrowed. The property is a vacant land with compound wall and gate. The appellant handed over key of the gate and respondent is in constructive possession of the said property.