VOONNA JANARDHANANA SRINIVASA KUMAR Vs. SUNKARI SRIRAM PRASAD

JUDGEMENT

(1.) Defendant in the suit filed the above second appeal against the judgment and decree dtd. 14/12/2021 in A.S.No.143 of 2019 on the file of I Additional District Judge, Srikakulam, confirming the judgment and decree dtd. 20/9/2019 in O.S.No.78 of 2016 on the file of Senior Civil Judge, Rajam.

(2.) For the sake of convenience and brevity, the parties herein are referred to as they are arrayed in the suit.

(3.) Plaintiff filed suit O.S.No.78 of 2016 for recovery of an amount of Rs.7,67,333.00. In the plaint, it was contended interalia that the defendant borrowed an amount of Rs.2,00,000.00 from the plaintiff on 15/9/2013 agreeing to repay the same with interest @24% per annum and executed a promissory note on the even date. While the debt is subsisting, defendant again borrowed an amount of Rs.3,00,000.00 from the plaintiff on 25/12/2014 agreeing to repay the same with interest @24% per annum and executed a promissory note on the same day. Plaintiff demanded the defendant to discharge the debt, however, defendant postponed the same on one pretext or other. Hence, suit was filed.