(1.) THE first defendant in O. S. No. 335/1954 of the Court of the District Munsiff of Haripad is the appellant in this second appeal. THE plaintiff in that suit - the respondent before us - was granted a decree against the first and second defendants.
(2.) THE first defendant appealed to the District Court of mavelikara (A. S. No. 250 of 1956) and during the pendency of the appeal - on 14-7-1956 - the plaintiff and the first and second defendants adjusted the dispute and filed a petition embodying the terms of the adjustment. THE amount due to the plaintiff under the decree on 14-7-1956 was Rs. 3753-15-0. THE material terms of the settlement will be clear from the following extract from the petition dated 14-7-1956 :
(3.) WE are inclined to agree with the courts below that it is the contention of the respondent that has to be upheld. The section makes it quite clear that what is payable in instalments is "the principal amount of the debt outstanding" together with interest under S. 5 and that in the case of a decree the amount decreed should be deemed to be the principal. The sum of Rs. 1250 mentioned in the petition of 14-7-1956 is certainly not the amount due under the decree. It is only a concessional amount which if paid before 14-12-1956 will be treated as sufficient for the discharge of the entire amount due under the decree.