ANGAMALI CHITTY FUND P LIMITED Vs. PIUS ABRAHAM

JUDGEMENT

(1.) The plaintiff in O. S. No. 157/87 on the file of the Subordinate Judge's Court, Ernakulam is the appellant. The suit was filed for recovery of money due under the chitty hypothecation deeds executed by the respondents defendants in the suit.

(2.) The respondents were subscribers in the chit conducted by the appellant as foreman and they have executed 3 chitty hypothecation deeds marked as Exts. A1 to A3 in the suit in favour of the appellant. The fact that the respondents defaulted payment of the instalments due under the chit from 16th instalment onwards and the appellant filed the above suit for realisation of the entire amount with interest due for the instalments from 16 to 50 is not in dispute. It is the common case that the 16th instalment was due on 7.9.1983 and the appellant filed the above suit on 27.2.1987 claiming recovery of the amount due for the instalments 16 to 50 with interest.

(3.) The respondents contended that the instalments 16 to 21 are barred by limitation since the appellant is entitled to claim only the instalments which fell due within three years prior to the date of filing of the suit.