JUDGMENT

V.Gopala Krishna Rao, J. - The Appeal, under Section 96 of the Code of Civil Procedure [for short 'the C.P.C.'], is filed by the Appellant/Plaintiff challenging the Decree and Judgment, dated 06.09.2007, in O.S. No. 1127 of 2004 passed by the learned III Additional Senior Civil Judge, Vijayawada [for short 'the trial Court']. The Respondent herein is the Defendant in the said Suit.

2. The Appellant/Plaintiff filed the Suit praying for passing of a decree directing the Respondent/Defendant to deposit the Suit amount of Rs.3,90,000/- with costs and subsequent interest @ 24% per annum from the date of Suit till the date fixed by the Court for redeeming the mortgage debt and, on failure to deposit the amount in time, to pass final decree for the suit amount with subsequent contractual interest among other reliefs.

3. Both the parties in the Appeal will be referred to as they are arrayed before the trial Court.

4. The brief averments of the plaint, in O.S. No.1127 of 2004, are as under:

(i) The Defendant borrowed a sum of Rs.2,50,000/- from the Plaintiff on 07.06.2002 by executing a demand promissory note in favour of the Plaintiff on the same day at Vijayawada, promising to repay t