STATE BANK OF INDIA Vs. P.VEERANARAYANA

JUDGEMENT

(1.) State Bank of India, which is plaintiff in O.S.No.25 of 2000 on the file of the III Additional District Judge, Tirupati, has filed this appeal to the extent of disallowed claim by the trial Court under judgment dated 22.03.2002.

(2.) State Bank of India (for short 'the Bank') filed the aforesaid suit based on mortgage against the respondent (hereinafter referred to as 'Borrower'), relating to housing loan of Rs.5.5 lakhs granted to the borrower. Claiming that the borrower is due and liable to pay a sum of Rs.7,12,889.41 ps. together with interest at 13.77% per annum with quarterly rests from the date of suit (23.07.2000), the bank filed the aforesaid suit. The said suit had been decreed by the trial Court for a suit claim of Rs.4,14,337/- and it also granted simple interest at 12% per annum from the date of suit. Thus, aggrieved by the disallowed suit claim as well as granting simple interest at 12% per annum as against the contractual rate claimed in the suit, this appeal is preferred by the bank.

(3.) I have heard Mr. M. Narender Reddy, learned counsel for the bank and Mr. T.V.L. Narasimha Rao, learned counsel for the borrower. Both the learned counsel have elaborately made submissions with reference to their respective claim on the basis of documents, which primarily comprise of statement of accounts, exhibited in the suit. The bank as well as the borrower have produced additional documents requesting to receive them as additional evidence, reference to which would made at an appropriate place.