This appeal arises from the judgment and decree of the Sub Court, Quilandy in O.S. No. 55/91.

2. The appellant was the defendant in O.S. No. 55/91 before the Sub Court of Quilandy. The respondent herein by name Narayanan Nair filed the suit for realisation of the amount due under an equitable mortgage. The facts are that the defendant borrowed Rs. 1,50,0001- from the plaintiff and on 6-6-1988 the defendant executed a pronote in favour of the plaintiff for that amount with interest. An equitable mortgage deed was also executed by depositing title deeds regarding the plaint schedule properties belonging to the defendant. The period fixed for repayment of the loan was 11 months. There was a stipulation in the mortgage deed to take possession of the plaint schedule properties by the plaintiff in case of default of repayment of the amount. After adjusting the payments made, the balance amount due was Rs. 71,400/- with interest. When that amount was demanded a cheque for Rs. 67,800/- was given to the plaintiff. But that cheque was dishonoured by the bank. Then C.C. No. 112/90 was filed before the Chief Judicial Magistrate's Court, Kozhikode. Thus the suit was fi