JUDGMENT

(Prayer: Original Side Appeal filed under Clause 15 of Letters Patent, against the fair and decretal order dated 08.03.2022 in O.A.No.35 of 2022 in C.S.No.59 of 2021 passed by the learned Single Judge.)

D. Bharatha Chakravarthy. J.,

A. The Appeal :

This Original Side Appeal is directed against the order of the learned Single Judge, dated 08.03.2022 in O.A.No.35 of 2022 in C.S.No.59 of 2021, by the Respondent. In this judgment, the parties are referred to as per their array in the Suit.

B. The facts of the case:

2. The brief facts leading to the filing of the appeal is that by a loan agreement dated 21.09.2019, the plaintiff and the defendant agreed that the plaintiff will take over the loan of the defendant with the third party by name, Gopuram Films/Anbu Cheziyan to the tune of Rs.21.29 crore and the defendant should pay the said sum to the plaintiff, with interest at the rate of 30% per annum, calculated on diminishing balance. Alleging that the defendant did not pay the amount as per the payment schedule mentioned in the loan agreement the plaintiff filed the above suit, claiming recovery of a total sum of Rs.30,5,68,137/- with further interest at the rate of 30% per annum wi