JUDGMENT :

(Krishna Rao, J.) :

1. The plaintiff has filed the present application being GA No. 1 of 2020 for Judgment and Decree on admission and allied prayers in connection with CS No. 71 of 2020.

2. The Plaintiff has filed a suit for Decree for an amount of Rs. 64,71,312/-along with interest at the rate of 15% per annum.

3. The plaintiff has filed the present application on the contention that the defendant has admitted the claim of the plaintiff and there is to defence of the defendant to go for trial.

4. The plaintiff contended that sometimes in the month of June’ 2016, the defendant through a broker had approached the plaintiff for financial assistance for a sum of Rs. 50 lakhs and the defendant also agreed to pay interest at the rate of 15% per annum on the advance. As per the request of the defendant, it was agreed between the parties that the plaintiff would lend an amount of Rs. 50 lakhs to the defendant which would carry interest at the rate of 15% per annum and the loan would be repayable on demand. It was further agreed that the defendant would pay interest on the principal amount on every four months.

5. As agreed by the parties, on July 2, 2016, the plaintiff had pai