1. The defendant in OS.No.907 of 2004 on the file of the Additional District Judge (Fast Track Court II), Coimbatore is the appellant. The suit was filed for a preliminary decree based on a mortgage by deposit of title deeds evidenced by a memorandum of deposit dated 31.05.2001 executed by the defendant.

2. It is the case of the plaintiff that the defendant had borrowed a sum of Rs.15,000/- on 10.06.2000, a sum of Rs.85,000/- on 12.06.2000 and a sum of Rs.4,00,000/- on 31.05.2001 as security for the above said borrowings, the defendant had executed promissory notes on the respective dates. After the borrowing on 31.05.2001 the defendant had deposited the original documents of title namely the sale deed dated 12.06.2000 with the plaintiff at Coimbatore with an intention to create a mortgage by deposit of title deeds. Such deposit is also evidenced by a Memorandum dated 31.05.2001. Since, the defendant had not repaid the loan, the plaintiff was constrained to file the suit for recovery of sum of Rs.6,72,666.66/- with subsequent interest at the rate of 24% p.a.

3. The suit was resisted by the defendant contending that the borrowals are not true. The defendant had denied the en