SAIT TARAJEE KHIMCHAND Vs. VELAMARTI SATYAM ALIAS SATTEYYA

JUDGEMENT

(1.) This is an appeal by certificate from the judgment dated 13 January, 1964 of the High Court of Andhra Pradesh modifying the decree passed by the Subordinate Judge on 27 November, 1958 and allowing the appeal from the decree by giving the defendants credit for the payment of Rs. 19,000/- on 31 December, 1953 towards the mortgage bond.

(2.) The appellants are the plaintiffs. The first appellant is a registered firm and the other appellents are its partners. The defendants Nos. 1 to 4 were the principal defendants and sued as mortgagees. Defendants Nos. 5 and 6 were partners of the plaintiffs firm who had retired. Defendants Nos. 7 and 8 were the subsequent mortgagees. Eventually, come of the heirs and legal representatives of the plaintiff's partners were brought on the record of the suit. They were numbered plaintiffs 6 to 10.

(3.) The appellants instituted the suit for the recovery of Rs. 27,995-11-0 with further interest and costs on the basis of a mortgage bond dated 1 January, 1948 executed by the first defendant and his sons defendants 2 to 4 in favour of the plaintiff firm.. The principal sum secured Rs. 17,500/- was repayable with compound interest at 1% per menses with half-yearly rests. The plaintiff firm after giving credit to the defendants for the sums paid towards the loan on the mortgage deed claimed the sum of Rs. 27,995-11-0 and interest. The plaintiff firm in paragraph 8 of the plaint further alleged that on 12 January, 1955 the first defendant acknowledged in writing on the mortgage bond liability for about Rs. 26,000/- and odd then found due while endorsing the payment in part for a sum of Rs. 410/-.