BHUPALAM BALASUBBRAYUDU Vs. DARISA NARASIMHAIAH

JUDGEMENT

(1.) This appeal is filed by the plaintiff against the judgment and decree dated 28.07.1997 passed in O.S.No.44 of 1990 by the Subordinate Judge, Kadiri, Anantapur District.

(2.) For the sake of convenience, the parties are referred to as plaintiff and defendants only.

(3.) The suit is filed by one Bhupalam Balasubbarayudu against the defendants for recovery of money based on a registered mortgage. The case of the plaintiff is that the first defendant in the suit borrowed a sum of Rs. 50,000/- on 04.12.1978 and agreed to repay the same with interest at 18% per annum at the end of every month and in default to pay interest on interest. Evidencing this agreement and as security, the first defendant mortgaged the schedule mentioned property in favour of the first defendant and executed a registered simple mortgage deed on 14.12.1978. It is the case of the plaintiff that defendants 2 to 10 and one Annam Narasimhaiah purchased the mortgaged property under a sale deed dated 17.09.1979 and also agreed to repay the mortgaged debt to the plaintiff. The plaintiff also pleads that the new purchasers paid interest to him in discharge of the mortgage debt.