JUDGMENT :

Prayer: First Appeal is filed under Section 96 of the Code of Civil Procedure against the judgment and decree of the Additional District Judge’s (FTC No.IV Court, Coimbatore at Tirupur, dated 14.02.2007 in O.S.No.437 of 2004.

1. This Appeal arising out of judgment and decree passed by the trial Court in the suit filed for recovery of money based on promissory note. The 1st defendant in the suit is the Appellant herein.

2. The brief facts of the case is that, the 1st defendant/Shanmugavelu and his father form joint hindu family. The properties were purchased in the name of the father, who is the 2nd defendant. Due to old age of the father, the 1st defendant was appointed as Karta and he was looking after the joint family properties. To improve the joint family properties and to met out the family expenses, the defendants borrowed a sum of Rs.7,60,000/- from the plaintiff on 13.05.2000. A Promissory note was executed by the 1st defendant for the said amount. He agreed to pay interest at Rs.2 per month per Rs.100/- to the plaintiff. In spite of repeated demands, the defendants not paid the interest or principal amount. Legal notice to the defendants was issued on 20.03.2003 ca