AVULA SUBRAHMANYAM REDDY Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This Appeal, under Sec. 96 of the Code of Civil Procedure [for short 'the C.P.C.'], is filed by the Appellant/defendant challenging the Decree and Judgment, dtd. 30/3/1999, in O.S. No.41 of 1997 passed by the learned Senior Civil Judge, Puttur [for short 'the trial Court']. The Respondent herein is the plaintiff in the said Suit.

(2.) The respondent/plaintiff filed a Suit for recovery of Rs.2,88,667.50 paise being the principal and interest due on an agreement of hypothecation dtd. 27/2/1993 executed by the defendant in favour of plaintiff's bank for Rs.1,70,000.00 payable with interest at 15.5% p.a. and for further interest and for costs.

(3.) Both the parties in the Appeal will be referred to as they are arrayed before the trial Court.