1. This appeal is directed against the judgment and decree passed by the Additional District Judge, Tirunelveli in A.S.No. 126 on 1982 on 17. 1983. The plaintiff filed the suit for recovery of a sum of Rs. 19,842.15 on the following allegations. The defendant obtained a loan of Rs. 15,000 from the plaintiffs Bank on 6. 1977 agreeing to pay interest at 16% with quarterly rests. The defendant also executed promissory note as security for the same on 6. 1977. He also executed a letter of undertaking agreeing to pay the said sum in 30 monthly equal instalments. It was further agreed that the defendants should pay the interest as fixed by the Bank from time to time and pay penal interest at 3% over the scheduled rate in default. On 6. 1977 the defendant deposited with the plaintiff at Thachanallur the title deeds with intent to create an equitable mortgage over the properties set out in the plaint. On 16. 1977 confirming the deposit of the title deeds the defendant also wrote a letter to the plaintiff. Thus the equitable mortgage has been created over the scheduled property. As the defendant was irregular in payment, the plaintiff sent a notice on 11. 1978. The defendant sent