N. SATHISH KUMAR, J.

1. Aggrieved over the first appellate Court judgment in allowing the appeal and decreeing the suit filed by the plaintiff for recovery of money, opposing the preliminary decree passed, the present second appeal has been filed.

2. The parties are arrayed as per their own ranking before the trial Court.

3. Brief facts of the case of the plaintiff is as follows:

The defendant borrowed a sum of Rs. 50,000/- from the plaintiff on 01.05.1997 for his business purpose and undertook to repay the amount along with interest at the rate of 3.5% per mensum with quarterly rests from the date of borrowing till repayment and in evidence of which, he executed a promissory note in favour of the plaintiff on 01.05.1997. Besides, he also created an equitable mortgage in respect of the immovable property measuring to an extent of 0.10 acres situate in R.S. No. 3897 of Ootacamund Town together with the godown situate thereon bearing Old No. 104C, New Door No. 73 Old Ward No. 12, New Ward No. 22 and deposited title deeds of the said property. On 02.05.1997 by letter of confirmation, the defendant confirmed the Equitable Mortgage. In spite of repeated demands, the defendant fail