CHALLAGULLA RATNAMANIKYAM Vs. D.N.RAO

JUDGEMENT

(1.) For the sake of convenience, the parties are referred to as arrayed in the suit.

(2.) The respondent - plaintiff, a registered partnership firm, filed O.S.No. 33 of 1994 in the Court of Additional Senior Civil Judge, (Fast Track Court), Gudiwada, against Chllagulla Satyanarayana, the husband of the 1st appellant and father of appellants 2 to 5, for recovery of Rs. 40,000/- , with interest at 24% per annum, on the strength of a promissory note, dated 24.05.1988. During the pendency of the suit, Satyanarayana, the sole defendant, died and his legal representatives, the appellants herein, were brought on record. The plaintiff pleaded that the defendant borrowed a sum of Rs. 40,000/- . for his family necessities, viz., to perform the marriage of his daughter and executed the promissory note on 24.05.1988. It was pleaded that unable to pay the amount within time, the defendant made a token payment of Rs. 300/- , on 19.05.1991, and endorsed an acknowledgement of the debt, on the reverse of the promissory note. The plaintiff pleaded that, in spite of repeated demands, the defendant did not pay the amount.

(3.) The defendant filed a written statement, opposing the suit. He admitted that the promissory note, marked as Ex.A.3, was executed on 24.05.1988, while borrowing a sum of Rs. 30,000/- . It is stated that though in the promissory note the amount was mentioned as Rs. 40,000/- , only Rs. 30,000/- was paid and the balance was sought to be adjusted towards future interest. He denied the endorsement, dated 19.05.1991, marked as Ex.A.4. He has also taken the plea that he is a small farmer, as defined under the A.P. Agricultural Indebtedness (Relief) Act, 1977 (Act 7 of 1977) (for short 'the Act').