(C.NAGAPPAN, J.)

1. This original side appeal is directed against the order dated 20.12.2011, made in the application in A.No.1400/2011 in C.S.No.573/2001. The applicant/first defendant is the appellant herein.

2. The second respondent herein filed the suit under Order XXXVI Rule 2 of Original Side Rules read with Order XXXIV Rule 1 of Code of Civil Procedure on the original side of this Court, seeking for a judgment and decree as against the defendants, directing them to pay the plaintiff a sum of Rs.40,55,000/-with further interest and costs on a day to be fixed by the Court, and in default, the mortgaged property be sold and the proceeds applied towards the payment of the amount of the said principal, interest and costs, and in the event of such proceeds not being sufficient for the payment in full of such amount, to pay the plaintiff the amount of deficiency with interest and for a personal decree for the remaining sum.

3. Briefly, the case of the plaintiff is that the first defendant borrowed a sum of Rs.4 lakhs on 10.7.1998, and executed a registered mortgage deed in respect of the immovable property in favour of the plaintiff and commencing from 11.7.1998, 13.7.1