DONDAPANI GOUDO Vs. HRUSHIKESH PATNAIK AND ORS.

JUDGEMENT

(1.) THE unsuccessful Defendant -mortgagee in both the Courts below is the Appellant.

(2.) THE Plaintiffs' case, in brief, is as follows : On 12 -31947 they executed a mortgage deed of their house in favour of the Defendant mortgagee for a sum of Rs. 6,00/ - and delivered possession of the said house to' him. The stipulation in the said deed is that if within a period of seven years from the date of mortgage the mortgage money of Rs. 6,00/ - is not paid to the mortgagee, he would be able to sell, gift or deal with the mortgaged house any way be likes and would enjoy absolute right over the same for all times to come. The Plaintiffs in accordance with the terms of the mortgage were looking after the annual repairs of suit house from time to time. Although the mortgage deed (Ext. A) is nomenclatured as an English mortgage, in fact and effect it is an usufructuary mortgage. After the completion of fifteen years from the date of the mortgage, the Plaintiffs demanded release of the mortgaged property, as by operation of law the mortgage was extinguished after the said period. The Plaintiffs filed this suit as the Defendant refused to release the house claiming absolute ownership over the same.

(3.) THE learned Munsif decreed the suit in part on the finding that the Plaintiffs had the right of redemption; that the provisions of Section 17 of the Orissa Money Lenders Act as amended in 1956 were applicable to the present case, and as such the mortgage stood discharged automatically on completion of fifteen years from the date of the mortgage.