b).The said C.R.Basil borrowed from the plaintiff a further sum of Rs.30 lakhs on 30.11.2008 and in consideration of the same, the said Basil had executed 60 promissory notes, at Chennai each for Rs.50,000/- in favour of the plaintiff and in and by the said promissory notes, the said Basil promised to repay to the plaintiff or order on demand, the total sum of Rs.30,00,000/- together with interest thereon at 36% per annum on the security of the documents of title pertaining to the property morefully described in the schedule to the plaintiff, already deposited by him with the plaintiff at the time of execution of the registered deed of simple mortgage dated 7.11.2008 with intent to create a security on the said property and thereby created an equitable mortgage by deposit of title deeds at Chennai for due repayment of the aforesaid sum of Rs.30 lakhs with interest thereon at 36% per annum. A memorandum of deposit of title deeds was also executed by him in favour of the plaintiff on the 1st day of December 2008. Towards the said equitable mortgage, there remains a sum of Rs.30,00,000/- for principal and Rs.18,51,000/- for interest from 11.10.2009 in all aggregating to Rs.48,51,000/- due under this equitable mortgage by deposit of title deeds created at Chennai on 1.12.2008 comes to Rs.48,51,000/-.
