GUDIBANDI MAHALAKSHMI Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) Both these Appeals are filed by defendants against the preliminary decrees in pursuance of the mortgages in the suit filed by the respondent-Banks for recovery of certain amounts on the basis of mortgages towards the financial assistance given to the appellants herein.

(2.) There is not much dispute as to the main transactions as such. In A.S. No.250/92, the loan was taken for the purpose of digging a bore well whereas in the other appeal i.e., A.S.No. 1209/86 the loan was taken for commercial purpose. The respondents' claim has been substantiated by the documents produced in respect of the mortgage. The only controversy which is sought to be raised is against granting of interest both prior to the suit and subsequent to the filing of the suit.

(3.) Therefore, the question now falls for consideration is whether in respect of the mortgage transactions between the plaintiffs and the defendants, the Bank is entitled to the contract rate or any other benefit can be conferred to the defendant prior to and subsequent to filing of the suit.