NARENDRA BHOI Vs. BHAGABAN DAS

JUDGEMENT

(1.) THE plaintiff raised the suit for the recovery of mortgage moneys advanced under two mortgage deeds, viz. Ex. 2 dated 12 -5 -23 and Ex. 1 dated 1 -4 -30 executed by the defendant, for Rs. 25/ - and Rs. 100/ - respectively. The lands mortgaged were plot No. 230 and plots' Nos. 1016 to 1018. The documents describe themselves as Dakhal Bandak and recite that the properties are put in possession of the mortgagee in lieu of interest and that the mortgagor shall not claim an account of the rents and profits issuing out of the lands, nor shall the mortgagee demand any interest for the sum lent. They further recite that if the principal amount is paid within the period fixed for redemption, the mortgaged properties shall stand redeemed. Under the first document the period fixed for redemption was nine years, while under the other document it was one year. The recital on which there has been controversy between the parties is as follows:

(2.) IT is admitted that the mortgagee was in possession under these two deeds till he was dispossessed by the defendants in 1946. This suit was, therefore, filed for recovery of the principal amount, together with interest.

(3.) IN second appeal, the point that has very strenuously been urged before me by Mr. Rao, on behalf of the appellant, is that the documents (Exs. 1 and 2) are usufructuary mortgage bonds and are statutorily discharged under Schedule 7, Orissa Moneylenders Act. This section provides: