M NARASIMHA RAO Vs. R. HANUMANTHA RAO

JUDGEMENT

(1.) This appeal is filed by the defendant aggrieved by the judgment and decree passed in O.S.No.771 of 2016 on the file of the XVII Additional Senior Civil Judge, City Civil Court, Hyderabad dtd. 3/4/2018 directing the appellant herein to pay an amount of Rs.8,30,000.00 with subsequent interest @ 12 % per annum from the date of suit till the date of decree and thereafter with future interest @ 6 % per annum till the date of realization on the principal amount of Rs.5.00 lakhs with costs thereon to the respondent herein.

(2.) The parties are herein after referred as arrayed before the trial court.

(3.) The case of the plaintiff was that the plaintiff and the defendant were known to each other since several years and out of that acquaintance, the defendant approached the plaintiff for hand loan of Rs.5.00 lakhs and on 24/10/2013 the plaintiff gave the said amount to the defendant and the defendant executed a demand promissory note and passed a separate receipt and agreed to repay the same within a period of one year along with interest @ 24 % per annum. The defendant having received the hand loan amount failed to repay the same as agreed earlier and dragged the matter for months together inspite of repeated requests on 20/1/2016, 21/3/2016 and 15/7/2016 and on the other hand threatened the plaintiff with dire consequences. Again on 20/7/2016, the plaintiff demanded the defendant to repay the loan amount with interest but the defendant threatened the plaintiff with dire consequences. As such, having no other alternative, the plaintiff filed the suit for recovery of money.