JUDGMENT:

1. The Appeal, under Section 96 of the Code of the Civil Procedure, 1908 (for short, ‘C.P.C’) is filed by the appellant/defendant challenging the decree and Judgment dated 21.04.2014 in O.S.No.58 of 2010 passed by the learned Judge, Family Court-cum-Additional District Judge, Vizianagaram (for short, 'the trial court'). Respondent is the plaintiff, who filed the suit in O.S.No.58 of 2010 seeking recovery of Rs.14,20,000/- with interest and costs from the defendant based on the promissory note.

2. Referring to the parties hereinafter as arrayed in the suit is expedient to mitigate potential confusion and better comprehend the case. 3. The factual matrix, necessary and germane for adjudicating the contentious issues between the parties inter se, may be delineated as follows:

The defendant borrowed Rs.10,00,000/- from the plaintiff for his business purpose, agreeing to repay the same with the interest rate of 24% p.a., and executed a promissory note on the same day at Cheepurupalli village. The plaintiff orally demanded the defendant to repay the due amount covered under the suit promissory note, but the defendant did not refund the promissory note amount owed.

4. (a) In the wri