JAGANNATH ROY Vs. RAJKUMARI PRATIVA DEBI

JUDGEMENT

(1.) This is a mortgage suit. On the 8th July, 1923, Kumar Prasanna Dev Raikut mortgaged several properties some at Calcutta within the jurisdiction aforesaid and some outside the jurisdiction for the sum of Rs. 7,95,000 in favour of Kumar Promatha Nath Roy. The mortgagor covenanted to pay the mortgage sum on the 8th July, 1928, with interest at 12 per cent, per annum payable by quarterly instalments and with compound interest at the same rate with half-yearly rest in the account. By another mortgage dated the 23rd December, 1923, Kumar Prasanna Dev Raikut mortgaged and further charged the properties mentioned in the 1923 mortgage in favour of Kumar Promatha Nath Roy for a sum of Rs. 1,10,000 and the mortgagor covenanted to pay the mortgage sum on the 8th July, 1928, with interest by quarterly instalment at 12 per cent, per annum with compound interest at the same rate with half-yearly rest in the account. By. an indenture of further charge dated the 21st September, 1929, Kumar Prasanna Dev Raikut further charged the properties mentioned therein in favour of Kumar Promatha Nath Boy for a sum of Rs. 5,85,000 and the mortgagor covenanted to pay the said sum of rupees payable by monthly instalments and compound interest at 12 per cent, per annum with half-yearly rest in the account.

(2.) By a registered agreement between Kumar Pramatha Nath Roy and Kumar Prasanna Dev Raikut dated the 21st September, 1929, the date of payment of money payable to the mortgagee under the indentures dated the 8th July, 1923 and 23rd December, 1923, was extended up to the 21st March, 1930. By the said agreement the mortgagee agreed to charge interest at the reduced rate of 9 per cent, per annum on the money payable on the said three indentures in the event of regular and punctual payment of interest by the mortgagor as provided in the said agreement.

(3.) The mortgagor had made certain payments of interest but failed to pay anything towards the principal. Kumar Pramatha Nath Roy thereupon the 24th July, 1931, instituted this suit for recovery of the principal sums of Rs. 14,90,000 and Rs. 2,76,909-13-9 for interest up to the 31'st July, 1931, aggregating Rs. 17,66,909-13-9.