In the Court of Subordinate Judge, Karur
O.S..No. /2021
[Link]
---Plaintiff
Vs
[Link]
---Defendant
Plaint presented by the above named Plaintiff underOrder
VII Rule 1 of Civil Procedure Code
1. Plaintiff
[Link] S/o. Karuppannan, aged about 42 years and
residing at No.3/A, Ramanur, Pasupathipalayam Post, Karur Taluk
& District - 639004
The address for service of summons and notice on the
plaintiff is an stated above and care of [Link],B.A.,L.L.B.,
Advocate, [Link].289/2017, Email:vickyadvocate7@[Link],
Cell: 9566434295, Lorrymedu, Karur - 639001
2. Defendant
[Link] S/o. [Link], aged about 54 years
and residing at No.70/54A, Mengatattu Street, Pasupathipalayam
Post, Karur Taluk & District -639004
3. The property morefully described in the plaint and
hereinafter called the suit property is situated at
Pasupathipalayam, Karur Municipal Town, Karur Taluk & District
and within the Jurisdiction of this Hon’ble Court.
4. The suit property belongs to the defendant. The defendant
had approached the plaintiff to lend a loan amount of
Rs.4,00,000/- for his purposes and urgent needs for which the
plaintiff had consented to pay the same to him. Accordingly on
30.01.2017 the defendant had borrowed a sum of Rs.4,00,000/-
(Rupees Four Lakhs only) agreeing to repay the said amount
alongwith interest at Rs.2.10/- per Rs.100/- per month. The time
fixed for redemption of the mortgage lien is Three years (03) from
the date of the said mortgage deed. The defendant had also
agreed to pay interest at Rs.2.40/- per Rs.100/- per month on the
said principal amount if any default is committed by the
defendant in the payment of the principal and interest covered
under the mortgage deed, the defendant had agreed to pay
interest for the said principal amount on the 5 th day of every
succeeding month without any default. As per the terms and
conditions of the simple mortgage deed the defendant had
agreed to repay principal amount and interestand to redeem the
mortgage lien created over the suit property within the period as
fixed under the above said mortgage deed. The terms and
conditions of the simple mortgage deed have been reduced into
writing, attested by the witnesses and registered according to
law. The said original simple mortgage deed produced as
document No.1
5. Thus the simple mortgage executed by the defendant in
favour of the plaintiff regarding the suit property to the limit of
Rs.4,00,000/- (Rupees Four Lakhs only) is fully supported by
equsideration.
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Details of the Mortgage
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1. Name of the mortgagee : [Link] – the plaintiff
2. Name of the mortgagor : [Link]- the defendant’
3. Date of mortgage : 30.01.2017
4. Amount secured : Rs.4,00,000/- (Rupees Four Lakhs
only)
5. Rate of interest : At the rate of Rs.2.10/- per Rs.100/-
per month and if
default, the interest is at the
rate of Rs.2.40/- per
Rs.100/- per month
6. Period fixed for redemption : Three years (03)
7. Property secured : As described hereunder
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6. The defendant has not paid any amount either towards
principal or towards interest covered under the said simple
mortgage deed inspite of repeated demands of the plaintiff. It is
submitted that the period fixed for redemption of the mortgage
lien created over the suit property covered under the above said
simple mortgage expired on 30.01.2020. Even after expiry of the
said mortgage period also the defendant has not come forward to
repay the principal amount and interest covered under the said
mortgage lien created over the suit property. The defendant is
bound to repay the principal amount and interest covered under
the said simple mortgage deed and to redeem the mortgage lien
created over the suit property.
7.
