SYNDICATE BANK ANANTHAPUR DIST Vs. M VENKATESU

JUDGEMENT

(1.) Syndicate Bank, Mudigubba, Anantapur District, the plaintiff in O.S.No.89 of 1987 on the file of the Subordinate Judge, Kadiri is the appellant and the respondent in the appeal is the defendant in the suit. This appeal is preferred questioning to the rate of interest which had been granted by the trial Court. The parties are referred to as plaintiff and defendant for the purpose of convenience. The plaintiff filed the suit for recovery of a sum of Rs. 31,536.90.00 ps. inclusive of the interest at the rate of 20.5% per annum payable from 10-7-1978, the date of suit loan transaction to 26-6-1987, the date of the plaint, with future interest. The allegations in the plaint are as follows:

(2.) The defendant had opposed the suit by filing a written statement with the following allegations:

(3.) Basing on the respective pleadings of the parties the following issues were settled: