JUDGMENT:

This appeal, under Section 96 CPC, aggrieved by the decree & judgment, dated 17.10.2016, passed in O.S.No.181 of 2011 on the file of the Court of Principal Senior Civil Judge, Gajuwaka.

2. Heard Sri V.V.Satish, learned counsel for the appellant/defendant and Sri V.Raghu, learned counsel for respondent/plaintiff. The parties shall hereinafter be referred to as plaintiff and defendants for the sake of convenience and clarity.

3. The case of the plaintiff, in brief, is as follows:

(a) The defendant approached the plaintiff and borrowed an amount of Rs.4,00,000/-from the plaintiff on 09.03.2009 for the purpose of family expenses and clearance of sundry debts and on the very same day, the defendant executed a demand promissory note in favour of the plaintiff for the said amount of Rs.4,00,000/-agreeing to repay the same with interest at the rate of 24% per annum as and when demanded by the plaintiff or his order. Subsequently, the plaintiff demanded the defendant several times to discharge the pronote debt along with interest, but the defendant kept on postponing the payment on one pretext or the other, though he is having sufficient means to discharge the debt. Hence, the plainti