J U D G M E N T

The suit for money based on a promissory note was dismissed by the trial court. The plaintiffs are in appeal.

2. The 2nd plaintiff is the power of attorney holder of the 1st plaintiff. It is the plaintiffs’ case that, on 04.08.2005 the defendant borrowed an amount of ` 21,55,200/- from the first plaintiff. Undertaking to repay the amount with interest, the defendant executed Ext.A2 promissory note of the same date, in favour of the first plaintiff. In partial discharge of the liability, the defendant paid an amount of ` 2 lakhs as per cheque dated 10.07.2007 and a further amount of ` 7 lakhs as per another cheque dated 01.07.2008. Alleging that in spite of demand the balance amount is not paid, the suit was filed.

3. Though the defendant admitted the issuance of Ext.A2 promissory note, he denied the transaction as pleaded by the plaintiff. It was contended that, on 25.08.2004 the defendant borrowed an amount of ` 10 lakhs and a further amount of ` 5 lakhs in March, 2005 from the first plaintiff. The debts were secured through sale deed executed in favour of the first plaintiff's wife. Subsequently, portion of the debt was repaid on two occasions as stated by the plaint