G LAKSHMINARASAYAMMA Vs. BONU SATYAVATHI

JUDGEMENT

(1.) The plaintiff is the appellant in this appeal. The appeal relates only to interest in so far it was disallowed by the trial court while decreeing the plaintiff's suit.

(2.) The suit is laid on the foot of a promissory note executed by one Bonu Satyanarayana under Ex.A-1, dated 18-2-1975 for a sum of Rs. 20,000/-. The interest stipulated therein is 30% p.a. The plaint alleged that no amount was paid under the suit pronote, that the executant died and that defendants who are the wife and children of the executant were added as parties and the action was laid for recovery of the debt with interest stipulated therein.

(3.) The defendants contested the suit denying the execution, the consideration and the enforceabitity of the same against them. They also raised the plea that they are entitled to the benefit of Act IV of 1933 and the interest claimed is usurious and excessive.