KATRAGADDA SRINIVASA Vs. PADALA RAVINDRA

JUDGEMENT

(1.) Heard Sri K.S.S. Sanjay learned counsel appearing for the appellant.

(2.) The respondent herein, had filed O.S.No.109 of 2013 on the file of the I Additional Senior Civil Judge, Visakhapatnam, for recovery of an amount of Rs.4,00,000.00 along with interest at the rate of 12% per annum, on the basis of a demand promissory note dtd. 20/12/2010. The suit was for recovery of Rs.5,00,000.00 with interest.

(3.) The case of the respondent was that he had extended a loan of Rs.4,00,000.00 to the appellant herein for his family necessities and had obtained a demand promissory note dtd. 20/12/2010, duly executed by the appellant herein and had to file a suit on account of the refusal of the appellant in repaying the said amount.