JUDGMENT

1. The parties in the present appeal are referred as they are arrayed in the suit. The plaintiff filed a suit for recovery of Rs.2,63,832/- with subsequent interest at 30% p.a., compounded on a yearly basis.

2. The case of the plaintiff is:

A. The 1st defendant and her husband had borrowed a sum of Rs.90,000/- from the plaintiff on 08.09.1992. This money was to be repaid with interest @ 30% p.a. compounded on a yearly basis. As security for repayment of the said money, the defendants created a mortgage, in favour of the plaintiff, on the plaint schedule property. Thereafter, the 1st defendant and her husband repaid a sum of Rs.24,000/- on 05.01.1993 towards part payment of principal and interest and had thereafter, defaulted in repayment of the debt.

B. The husband of the 1st defendant, after some time, passed away. The 1st defendant sold the mortgaged suit schedule property to the 2nd defendant. After purchasing the property, the 2nd defendant called on the plaintiff to bring the title deeds of the plaint schedule property and receive the remaining debt amount from the 2nd defendant. However, the 2nd defendant did not make any payment despite the plaintiff having approached t