JUDGMENT:

Defendant in O.S.No.1134 of 2006 on the file of I Additional Senior Civil Judge, Vijayawada filed the above appeal under Section 96 of the Code of Civil Procedure, 1908.

2. For the sake of convenience, parties to this appeal are referred to as they were arrayed in suit.

3. Plaintiff filed the suit O.S.No.1134 of 2006 against the defendant for recovery of amount on the strength of promissory note dated 15.11.2003.

4. In the plaint, it was contended inter alia that on 15.11.2003 defendant borrowed an amount of Rs.2,50,000/- from the plaintiff for his business purpose and executed a promissory note on the even date. Defendant promised to pay the interest @24% p.a. with yearly rests. Since the date of execution of promissory note, defendant did not pay the amount and despite demanded by the plaintiff, defendant is postponing the repayment. On 07.11.2006, plaintiff got issued a registered notice through his counsel. Defendant got the notice returned and failed to repay the amount. Hence, suit is filed for recovery of an amount of Rs.4,29,700/-.

5. Defendant filed written statement and contended inter alia that he did not borrow the amount on 15.11.2003; that there is no privity of