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IN THE HIGH COURT OF JUDICATURE AT MADRAS
P.B.BALAJI, J
S.Mythili – Appellant
Versus
K.Aswinikumar – Respondent
| Table of Content |
|---|
| 1. summary of mortgage agreement and suit details. (Para 2 , 3) |
| 2. arguments regarding payment and interest. (Para 4 , 5) |
| 3. court's consideration of evidence and applicable rules. (Para 6 , 7 , 8) |
| 4. judicial discretion in mortgage interest rates. (Para 9) |
JUDGMENT
The defendant in O.S. No.163 of 2018, is the appellant in the present appeal.
II. PLEADINGS:
2 (1). Plaint in brief:
The defendant had borrowed a sum of Rs.5,00,000/- on 18.06.2014 from the plaintiff, agreeing to repay the same together with interest on 24% per annum. The defendant mortgaged the suit property to the plaintiff on 18.06.2014, by executing a mortgage deed as security for the debt, agreeing to pay interest at 24% per annum. The defendant did not pay any amount either towards interest or principal. The defendant gave evasive replies whenever the plaintiff demanded the payment of the amount due and payable by the defendant. Hence, suit for recovery of sum of Rs.10,34,932/- on the mortgage title.
2(2). Written Statement filed by the defendant in brief:
It is true that the defendant borrowed a sum of Rs.5,00,000/- and executed a mortgage deed in favour of the plaintiff. However, it is incorrect to state
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