The suit is filed for recovery of a sum of Rs.27,86,732/- together with interest on the principal sum of Rs.13,50,000/- at the rate of 36% per annum from date of plaint till realisation.

2. The brief facts of the case of the plaintiff are as follows:

The defendants are manufacturers of pressure vessels for industrial use. They approached the plaintiff in the second week of April 2009 for financial help of Rs.13,50,000/- for their business purpose. The plaintiff agreed to advance the said amount within fifteen days. Accordingly, he has advanced the said amount of Rs.13,50,000/- in seven instalments commencing from 18.04.2009 to 30.04.2009. The defendants have executed promissory notes for the amount received by them and agreed to pay interest at the rate of 36% per annum. The defendants agreed to repay the amount with interest by March 2011. However, they have not made any payment. Besides, the defendants have also deposited original sale deed dated 29.04.2005 with intent to create equitable mortgage on 03.04.2009. Inspite of repeated demands and legal notice dated 26.12.2011, the defendants failed to repay the principal as well as the interest. Hence, the suit for recovery