The defendant has preferred this appeal challenging the judgment and decree dated 23. 1995 passed in O.S.No.200 of 1990 by the learned II Additional Subordinate Judge, Erode.

2. The respondent herein filed the suit seeking for a decree against the defendant for a sum of Rs.74,800/- with future interest and costs. The case of the plaintiff is that the defendant borrowed a sum of Rs.55,000/-from the plaintiff for her business and family expenses on 30.3.1987 and executed the suit pronote agreeing to repay the same with interest at 12% per annum and the defendant did not repay any amount either towards principal or interest inspite of demand and the defendant was doing business and hence the interest was claimed at the rate of 12% per annum in the suit.

3. The defendant, in the written statement, has denied the plaint allegation that she borrowed a sum of Rs.55,000/- and executed the suit promissory note and stated that the suit promissory note was executed under the following circumstances by the defendant. According to the defendant, she and four others entered into a partnership deed under the name and style of Premier Steels in May 1984 and purchased land at Thekkalur V