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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
B.R.MADHUSUDHAN RAO
Ravikanti Srikanth – Appellant
Versus
Lingampally Linga Rao – Respondent
JUDGMENT :
B.R. MADHUSUDHAN RAO, J.
1. This Appeal is filed by the appellant-defendant under Section 96 of CIVIL PROCEDURE CODE , 1908 assailing the judgment and decree passed in O.S.No.06 of 2013, dated 03.10.2018 by the Senior Civil Judge, Huzurabad.
2. Respondent-plaintiff has filed suit for recovery of money for Rs.9,84,200/- in his favour against the appellant-defendant person and property and to award interest @ 18% per annum on Rs.9,84,200/- from the date of suit till the realization.
3. The parties will be hereinafter referred to as plaintiff and defendant.
AVERMENTS IN PLAINT:
4. The defendant is having close acquaintance with the plaintiff and approached him on 09.11.2012, borrowed an amount of Rs.9,50,000/- for his business purpose. The plaintiff is doing Adthi business and the defendant is a resident of Jammikunta Village, runs Private Chits. The defendant having received the above said amount has executed promissory note as a collateral security in favour of the plaintiff on 09.11.2012 undertaking to repay the same with interest @ of Rs.1.50 ps. per hundred i.e., 18% per annum. Promissory note is scribed by A.Shankaraiah (PW.3), P.Kaladhar Rao (PW.4), K.Thirupathi (PW.2) a
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