MODUGU VEERAIAH Vs. MEDARAMETLA VANAJAKSHI

JUDGEMENT

(1.) Aggrieved by the judgment and decree dtd. 26/7/2019 in O.S.No.224 of 2013 (hereinafter will be referred as 'impugned judgment') passed by the learned Principal Senior Civil Judge, Kothagudem (hereinafter will be referred as 'trial Court'), the defendant preferred the present appeal to set aside the impugned judgment.

(2.) For the sake of convenience, the parties hereinafter are referred to as they are arrayed before the trial Court.

(3.) The brief facts of the case, which necessitated the appellant to file the present appeal are that the defendant is closely acquainted with the plaintiff and out of such acquaintance the defendant borrowed Rs.7,00,000.00 for his family necessities from the plaintiff on 5/9/2011 at Palvoncha and executed promissory note in favour of the plaintiff on the same day promising to repay the same together with agreed interest @ 24% per annum either to plaintiff or to her order on demand. Thereafter, the plaintiff made several oral demands for payment of amount but the defendant did not come forward. Hence, the plaintiff filed the suit for recovery of Rs.9,94,000.00 with subsequent interest 24% per annum on the principle amount of Rs.7,00,000.00 from the date of suit till realisation of the suit claim: