PRAYAG NARAIN KAFRI Vs. CHEDI RAI

JUDGEMENT

(1.) These second appeals arise out of two suits to enforce mortgage bonds, dated respectively 25 September 1894 and 1 October 1894. The appeals are with regard to the order of the District Judge in appeal disallowing the contract rate of interest and fixing an arbitrary rate of his own.

(2.) There are cross-objections by defendants second party who are purchasers of the equity of redemption under a kobala, dated the 5 April 1891, under which they paid off three prior simple mortgages created by Exts. A2, A3 and A4 and a prior usufructuary mortgage created by Ex. A3. They also paid off a puisne mortgagee with whom we are not concerned.

(3.) The kobalas recite the circumstances and mention the mortgages. The defendants second party have preserved the bonds and produce them. Under these circumstances the well-known principle of subrogation laid down in the Privy Council judgment in the case of Gokaldas Gopaldas V/s. Puranmal Premsukhdas 10 C. 1035 : 11 I.A. 126 seems to apply with the strongest possible force.