ADAPA MURALI & ANR Vs. GUNDRU JYOTHI

JUDGEMENT

(1.) The defendants in O.S.No.233 of 2006 on the file of the learned Principal Senior Civil Judge's Court, Srikakulam and respondents in A.S.No.1 of 2011 on the file of the Principal District Judge's Court, Srikakulam, preferred this appeal, challenging the decree and judgment of the Principal District Judge, Srikakulam in A.S.No.1 of 2011 dated 07.04.2014, whereunder, the defendants were directed to pay the suit amount together with interests and costs.

(2.) For convenience of reference, the parties to the appeal hereinafter to be referred as defendants (appellants) and plaintiff (respondent) respectively.

(3.) The suit was filed for recovery of an amount of Rs.3,63,376/- with subsequent interest at the rate of 12% per annum, alleging that both the defendants are husband and wife, jointly borrowed Rs.3,50,000/- from the plaintiff on 31.08.2006 for their family expenses and jointly executed a promissory note in favour of the plaintiff, agreeing to repay the same together with interest at the rate of 12% per annum, either to the plaintiff or to her order within three months. Both the defendants executed security bond on 31.08.2006 for due payment of the amount covered by the promissory note. However, inspite of the repeated demands made by the plaintiff, the defendants failed to repay the amount. Hence, the plaintiff filed the suit.