JUDGMENT :

V. GOPALA KRISHNA RAO, J.

1. This Appeal, under Section 96 of the Code of Civil Procedure [for short ‘the C.P.C.’] is filed by the Appellant/defendant challenging the Decree and Judgment, dated 30.03.1999, in O.S. No. 41 of 1997 passed by the learned Senior Civil Judge, Puttur [for short ‘the trial Court’]. The Respondent herein is the plaintiff in the said Suit.

2. The respondent/plaintiff filed a Suit for recovery of Rs.2,88,667.50 paise being the principal and interest due on an agreement of hypothecation dated 27.02.1993 executed by the defendant in favour of plaintiff’s bank for Rs.1,70,000/- payable with interest at 15.5% p.a. and for further interest and for costs.

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. 41 of 1997, are as under:

The plaintiff bank at the request of the defendant extended its financial assistance by granting an agricultural term loan of Rs.1,70,000/- for the acquisition of tractor and trailer and accessories. The plaintiff bank opened a ledger account in the name of defendant and sanctioned the loan amount. The defendant has executed an agreement