This appeal is by the defendant arising out of a suit O.S.No.37 of 1986 filed by the plaintiff/respondent herein for recovery of money based on a pronote. The said suit was dismissed by the trial Court by judgment and decree dated 19.12.1988 but has been decreed by the lower appellate Court in A.S.No.22 of 1989 by judgment and decree dated 20.10.1992. Hence, this second appeal.

2. The facts, in brief, are as follows:

(a) The respondent/plaintiff claimed that on 14.04.1985, the appellant/defendant borrowed a sum of Rs.20,000/- from the plaintiff and executed a pronote – Ex.A1 on the same day. It was alleged that the said amount is repayable with interest at 24% per annum on demand and in spite of repeated reminders the defendant failed to discharge the liability. Hence, the plaintiff issued notice – Ex.A2 dated 09.12.1985 but the registered cover was returned refused by the defendant as per postal endorsement – Ex.A3. The plaintiff, thereafter, has filed the present suit on 01.04.1986.

(b) The defendant filed a written statement claiming that his wife was running chit business and in the course of the said business, she became indebted to several persons and in order to p