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HIGH COURT OF MADRAS
D.BHARATHA CHAKRAVARTHY, J
L.Prakash – Appellant
Versus
T.Saraswathi – Respondent
| Table of Content |
|---|
| 1. details of the sale and subsequent promissory note transaction. (Para 2 , 3 , 4) |
| 2. arguments from both sides regarding enforceability of the promissory note. (Para 5 , 6) |
| 3. court’s examination of the law related to promissory notes and sale deeds. (Para 7 , 8 , 9) |
| 4. final decision to dismiss the appeal. (Para 10) |
JUDGMENT
A.The Appeal :
This appeal suit is filed by the appellants aggrieved by the Judgement and Decree of the learned Principal District Judge, Vellore dated 20.07.2015 in and by which O.S.No.68 of 2014 filed by the plaintiff for recovery of a sum of Rs.14,43,200/- together with future interest at the rate of 24% per annum on the principal sum of Rs.11,00,000/- was dismissed by the Trial Court.
B.Brief Facts:
2.The case of the Plaintiff is that the defendant was the original owner of the property at Door No.80, Ida Scudder Road, Vellore. By a registered sale deed dated 02.12.2011, through her Power of Attorney agent, the defendant sold the said property to the plaintiff for a total sale consideration of Rs.7,50,000/-. However, in the year 2013, the defendant wanted to repurchase the same from the plaintiff. The sale consideration was fixed at Rs.20,00,000
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