JUDGMENT :

The appeal is filed by the defendant in O.S.No.5 of 2005 on the file of Principal Senior Civil Judge’s Court, Srikakulam, Srikakulam District. The respondent herein is the plaintiff in the said suit.

2. The parties will hereinafter be referred to as arrayed before the trial Court.

3. The respondent/plaintiff filed the suit for recovery of a sum of Rs.4,59,750/- with costs and also with future interest.

4. The brief averments in the plaint are as follows:

The defendant borrowed a sum of Rs.3,00,000/- from the plaintiff for the purpose of business agreeing to repay the same with interest at 18% per annum and executed the suit promissory note in favour of the plaintiff on 11-01-2002 at Kotabommali village. In spite of several demands made by the plaintiff, the defendant did not choose to pay the amount due under the suit promissory note and postponed the repayment. The plaintiff got issued a legal notice to the defendant on 19-11-2004 demanding him to pay the amount with interest, which was returned with an endorsement that the defendant was found absent. Hence, the plaintiff is constrained to file the suit for recovery of amount.

5. The brief averments in the written statement f