JUDGEMENT :

N. Sathish Kumar, J.

Challenging the judgement and decree dated 01.12.2021 made by the learned Principal District Judge, Tiruppur District, in O.S.No.34 of 2019, the defendant is before this Court with the present appeal suit. The suit was decreed against the appellant herein directing him to pay to the plaintiff, a sum of Rs.12,50,000/- with interest at the rate of 7.5% per annum from the date of plaint till date of decree and thereafter at 6% per annum till date of repayment in full and cost of Rs.67,764.50.

2. For the sake of convenience, the parties in this appeal suit will hereinafter be referred to as per their array in the original suit.

3. The case of the plaintiff in O.S.No.34 of 2019 in brief is as follows:

(i) The defendant is known to the plaintiff. Knowing the plaintiff, the defendant borrowed Rs. 9,00,000/- from him on 09.09.2014 by signing an on-demand promissory note committing to repay the debt with interest at 24% per annum.

(ii) Despite the plaintiff's repeated demands, the defendant did not pay interest or repay the principal. Following repeated demands, the defendant issued a cheque bearing No.493307 dated 15.10.2016 in favour of the plaintiff for Rs.12,5