GUDE HARI BABU Vs. POTLA VENKATESHWARULU

JUDGEMENT

(1.) The challenge in this appeal suit is to the judgment, dtd. 31/8/2019 in O.S.No.3 of 2018, on the file of X Additional District Judge, Gurazala ("Additional District Judge" for short), whereunder the learned Additional District Judge decreed the suit of the plaintiff for a sum of Rs.22,09,433.00 with interest at 12% per annum on Rs.13,00,000.00 from the date of suit till the date of decree and thereafter at 6% per annum till the date of realization.

(2.) The parties to this Appeal Suit will hereinafter be referred to as described before the learned Additional District Judge for the sake of convenience.

(3.) The case of the plaintiff, in brief, according to the averments set out in the plaint is that the defendant borrowed a sum of Rs.13,00,000.00 from the plaintiff on 11/1/2015 for his business purpose and executed a promissory note on the same day, agreeing to repay the same with interest at 24% per annum either to the plaintiff or his order on demand. Later, the defendant paid a sum of Rs.25,000.00 on 16/8/2017 towards part payment and made an endorsement with his own hand writing on the back of the promissory note. He did not mention the date while scribing the part payment. Later, the plaintiff requested the defendant for discharge of the balance promissory note amount, but the defendant postponed the same on one pretext or the other. Hence, the suit.