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PETITIONER: SARDAR SAMSHER SINGH
Vs.
RESPONDENT: RAJA SARDAR NARAIN AND OTHERS.
DATE OF JUDGMENT: 05/08/1960
BENCH: GUPTA, K.C. DAS BENCH: GUPTA, K.C. DAS DAS, S.K. HIDAYATULLAH, M. SHAH, J.C. AYYANGAR, N. RAJAGOPALA
CITATION: 1960 AIR 1249
ACT: Debt Relief--Decree on mortgage--Reduction of interest--Statute prohibiting allowing of interest exceeding principal sum due--Application of--Relevant date--U. P. Encumbered Estates Act, 1934 (U. P.KXV of 1934), s. 14(4)(a).
HEADNOTE: N borrowed rupees one lakh from D on mortgage of a house and Zamindari interest on March 1, 1924. Interest was 8% per annum compoundable with six monthly rests. In 1932 the mortgagee filed a suit on the mortgage and a decree was passed for the recovery of Rs. 1,83,781/5/9 principal and interest upto the date of the suit and Rs. 49,280/ 2/6 interest from date of the suit upto the date fixed for payment, with future interest at 6% per annum simple on the principal sum. On the failure of the mortgagor to pay by the date fixed a final decree was passed on May 9, 1935 for sale of the property for recovery of a sum of Rs. 2,37,503/5/6 which had become due. On October 26, 1936, N made an application under s. 4 of the U. P. Encumbered Estates Act, 1934, requesting that the-provisions of the Act be applied to him. Section 14(4)(a) of the Act provided th...