J U D G M E N T

( Judgment of the Court was made by R .SUBRAMANIAN, J.)

The plaintiff in O.S.No.23 of 2020 is on appeal.

2.For convenience, the parties will be referred to as per their rank in the Suit.

3.The Suit was laid by the plaintiff / Bank seeking recovery of a sum of Rs.14,80,219/- with subsequent interest at 14.70% allegedly due on a mortgage by deposit of title deeds dated 20.09.2005 created by the defendants to secure a borrowing of a sum of Rs.3,20,000/- made by them for purchase of a Tractor. According to the plaintiff, the loan was advanced on 24.09.2005 and the defendants had agreed to repay the same with interest at 10% per annum in 9 yearly instalments and the repayment was commenced from 24.09.2006. However, the Loan Waiver Scheme was brought in the year 2007 and a portion of the loan which remained unpaid as on 09.07.2008 was waived as per the Scheme introduced by the Central Government for waiver of agricultural loans. Contending that there was a balance of about Rs.2,53,155/- on the said date and the same with accrued interest had swollen to Rs.14,80,219/- the plaintiff sought for recovery of the said amount.

3.1.The Suit was resisted by the defendants contending t