MANOHAR PERSHAD, SRINIVASACHARI
Raja Vellanki Lakshmi Narasayamma Rao – Appellant
Versus
Vejju Achayya – Respondent
SRINIVASACHARI, J. :-
This is an appeal directed against the judgment of the Subordinate Judge, Vijayawada, decreeing the plaintiffs suit. The plaintiff-respondent filed a suit on the basis of a pronote executed by the defendant on 12-9-1949 which in turn was one in renewal of an earlier promissory note for Rs. 4,000/- executed on 25-9-1946. The plaintiff claimed Rs. 6,113-8-9 as being the amount of principal due on the pronote and claimed by way of interest a sum of Rs. 1461-0-6, calculated at Re. 1-4-6 per cent, per month with yearly rests.
The defendant admitting the execution of the suit pronote only disputed the claim as regards interest contesting that the rate of interest was excessive and the whole transaction was substantially unfair. She stated that interest at 9 per cent, per annum simple was the most reasonable rate of interest to which the plaintiff was entitled. The only issue in the case therefore was as to whether the plaintiff was entitled to the interest claimed by him. The learned Subordinate Judge was of the opinion that the defendant was not entitled to the relief claimed by her and decreed the suit awarding interest at the contract rate, and allowing fu
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