KOLLURI LAXMI Vs. BOMMARATHI SATYANARAYANA

JUDGEMENT

(1.) This Appeal is filed by the appellant-plaintiff aggrieved by the judgment and decree passed in O.S.No.62 of 2017, dated 24.02.2020 by the Principal District Judge, Karimnagar.

(2.) Appellant-plaintiff has filed suit for recovery of Rs.27,61,960/-along with interest at the rate of 2% per month on the principal amount from the date of suit till the date of realization.

(3.) Defendant filed written statement and contended that his wife Satyalaxmi and the plaintiff are close friends since last thirty years and his wife has obtained a loan of Rs.2,45,000/- from the plaintiff during the year 2001-2002 and she repaid Rs.1,00,000/- in the year 2007, however, plaintiff insisted to repay the compound interest @ 24% and deducted the amount towards part of interest and that the plaintiff has forcibly obtained promissory note for Rs.8,50,000/- on 16.09.2007 from his wife as security. On 16.05.2017, the defendant and his wife called one Karra Damodar for settlement of payment of amounts. Plaintiff made false demand of Rs.24,00,000/- and odd calculating heavy compound interest. Parties came to a settlement for Rs.10,00,000/- which has to be paid within a year without any interest but the plaintiff and her husband insisted the defendant to execute a pro-note for Rs.24,14,000/- stating that the same would be kept as security till payment of settlement of amount of Rs.10,00,000/-. After its execution, the pro-note and the Xerox copies of pro-note, dated 16.09.2007 were handed over to the plaintiff.