JUDGMENT

(Prayer: First Appeal filed under Order 41 Rule 1 r/w. Section 96 of C.P.C., against the judgment and decree dated 27.08.2013 of the learned VAdditional City Civil Judge at Chennai in O.S.No.5928 of 2012.)

R.Subramanian, J.

1. The defendant is on appeal, aggrieved by a decree for redemption granted by the Trial Court. A suit was laid by the respondents 1 and 2 seeking redemption of mortgage that was created on 28.06.1993 for a loan of Rs.85,000/-. There was another loan granted on 11.07.1995 for Rs.1,25,000/-. The plaintiffs sought for redemption valuing the amount that is due and payable under the both loan account is Rs.4,62,099.38/-.

2. The suit was resisted contending that the 1st defendant mortgagee had taken steps to auction the property and total amount due under the mortages comes to Rs.12,39,982/-. The Trial Court, afer framing necessary issues concluded that the 1st defendant mortgagee would be entitled to a sum of Rs.4,62,099/- together with interest at 12% per annum on Rs.1,88,882/- from the date of suit i.e., 21.03.2006 till the date of realisation.

3. The only grievance that is projected by the learned counsel for the appellant is the rate of interest that has bee