MATTUPALLI SIVA NAGA SRINIVASARAO Vs. MATTUPALLI SUBBA RAO

JUDGEMENT

(1.) The Appeal, under Sec. 96 of the Code of the Civil Procedure, 1908 (for short, 'C.P.C'), is filed by the appellant/defendant challenging the decree and Judgment dtd. 29/6/2013 in O.S.No.329 of 2012 passed by the learned District Judge, Guntur, (for short, 'trial court'). Respondent is the plaintiff, who filed the suit in O.S.No.329 of 2012 seeking recovery of Rs.12,91,197.00 which includes principal and interest accrued against the defendant.

(2.) The parties will hereinafter be referred to as arrayed before the trial Court.

(3.) The facts leading to the present Appeal, in a nutshell, are as under: The plaintiff and defendant are brothers. The defendant borrowed Rs.6,00,000.00 personal loan from State Bank of Hyderabad, Arundelpet branch, Guntur (for short, 'S.B.H') on 9/8/2004. The plaintiff and his two sons, Murali Mohan and Mahesh, stood as guarantors for the due payment of debt and signed an agreement of guarantee. Subsequently, the defendant failed to discharge the debt, despite demands made by S.B.H. Consequently, S.B.H issued a notice to the plaintiff and his sons to discharge debt serving notice under SARFAESI Act, 2002, dtd. 9/11/2006 demanding them to pay the debt due to bank. On receipt of the notice, the plaintiff, having no other alternative, paid a total sum of Rs.6,60,000.00 to S.B.H on different dates to the credit of the defendant's loan account bearing No.520996645438 of the defendant. Subsequently, the plaintiff made several demands for repayment of the amount which he paid towards loan dues, but the defendant did not pay any amount.