The promissory note was deemed valid and binding, with the plaintiff successfully proving its execution and consideration.

JUDGMENT :

The appeal is filed against the judgment and decree dated 19-9-2003 in O.S.No.17 of 2000 passed by the learned Principal Senior Civil Judge, Tenali, Guntur District. The suit is filed for recovery of Rs.1,89,084/- being the amount of principal and interest due on a promissory note dated 13-02-1997 executed by the defendant in favour of the plaintiff’s transferor for Rs.1,10,000/- payable with interest at 24% per annum and for costs.

2. The case of the plaintiff as narrated in the plaint, in brief, is as follows:

It is pleaded that the defendant borrowed a sum of Rs.1,10,000/- from one Talasila Srinivasa Rao on 13-02-1997 for the purpose of the marriage of his sister in Repalle agreeing to repay the same with interest at 24% per annum with yearly rests either to the said Srinivasa Rao or to his order when demanded and the defendant executed a promissory note in favour of the said Srinivasa Rao on the same day. The defendant failed to repay the suit promissory note debt to the said Srinivasa Rao in spite of several demands made by him. The said Talasila Srinivasa Rao required money and hence he received a sum of Rs.1,40,000/- from the plaintiff on 15-12-1999 and endorsed the suit promissory note in favour of the plaintiff at Repalle, signed the endorsement and delivered the promissory note to the plaintiff at Repalle. The plaintiff got issued a registered notice through his advocate on 07-02-2000 to the defendant. Having received the same, the defendant kept quiet. Hence, the suit.

3. Brief averments in the written statement filed by the defendant are as follows:

It is contended that the plaintiff had never paid a sum of Rs.1,10,000/- to the defendant under the suit promissory note dated 13-02-1997 and the defendant never received the said amount. The plaintiff himself was not present at the time of execution of the suit promissory note. The defendant’s mother died about 10 years back, leaving two sons and a daughter. The defendant’s father was looking after the education of his children and their welfare. The defendant is educated up to Bachelor of Engineering Degree and employed in Dr. Reddy Laboratories, Hyderabad, at the time of the suit promissory note. His sister is a Post Graduate in the year 1997 and his father was negotiating to settle alliance to his daughter. The scribe of promissory note one Kolli Koteswara Rao is the defendant’s maternal uncle. His sister’s husband is Yarlagadda Butchi Rao, who is the plaintiff’s brother. The said Koteswara Rao, his two brothers and Yarlagadda Butchi Rao prevailed upon the defendant to settle the alliance for his sister with a person of their choice stating that his father will not perform the marriage of his sister at all and posing as well-wishers, they settled the alliance with one M.R.R. Prasad, a native of Uppalapadu. At that time, the above persons had taken two promissory notes from the defendant on 13-02-1997, one in favour of the plaintiff and another as additional security on the same date in favour of one Talasila Srinivasa Rao and that not a single paise was paid to him by the plaintiff under the suit promissory note. There are no attestors at the time of execution of the suit promissory note. Hence, the suit may be dismissed.

4. Based upon the pleadings of both the parties, the trial Court framed the following issues for trial:

(1) Whether the suit pronote has come into existence as mentioned in para No.3 of written statement ?

(2) Whether the payment pleaded by defendant is true and valid ?

(3) Whether the plaintiff is entitled for the suit amount ? and

(4) To what relief ?

5. During the course of trial, on behalf of the plaintiff, P.Ws.1 to 3 are examined and Exs.A-1 to A-4 are marked. On behalf of the defendant, D.W.1 is examined and no documents are marked.

6. After completion of the trial and hearing the arguments of both sides, the trial Court decreed the suit with costs for Rs.1,89,084/- with subsequent interest at 12% per annum from the date of suit till the dat