JUDGMENT :

The present Second Appeal has been directed against the judgment and decree dated 16.02.2010 in A.S.No.90 of 2006 on the file of XI Additional Chief Judge, City Civil Court (FTC), Hyderabad, wherein and whereby, the judgment and decree dated 16.12.2005 in O.S.No.471 of 2002 on the file of XI Additional Senior Civil Judge (FTC), City Civil Court, Hyderabad, was reversed. Initially, primary Court decreed the suit.

2. The appellant is the plaintiff and the respondent is the defendant. For convenience, the ranks of the parties as were referred to in the suit, is maintained.

3. The sum and substance of the case of the plaintiff is that the defendant, to meet his business needs, borrowed an amount of Rs.1,35,000/- on 09.05.1999 and executed a promissory note agreeing to repay the amount with interest @ 24% p.a. Subsequently, defendant paid Rs.60,000/- towards interest on different dates and obtained acknowledgements. The defendant did not pay the balance amount. Hence, a legal notice dated 16.03.2002 was issued calling upon the defendant to pay the amount and the defendant gave a reply dated 28.03.2002 with a false claim. Hence, the present suit.

4. The case of the defendant is th