PARBATI CHARAN MUKHERJEE Vs. AMARENDRA NATH BHATTACHARJEE

JUDGEMENT

(1.) This appeal arises out of a suit for recovery of Rs. 16,126 under the following circumstances: The plaintiff and the defendants carried on a foundry business in which the plaintiff had a 6 annas share, the defendants being the owners of the remaining 10 annas share. The plaintiff sold his 6 annas share in the business to the defendants for a price of Rs. 21,000 on the 12 August, 1922 The defendants paid Rs. 6,000 out of the Rs. 21,000 to the plaintiff and for the balance of Rs. 15,000 executed a mortgage-bond about three months afterwards on the 15 November, 1922 in which they stated "as we are unable to pay the balance of Rs. 15 000 in cash to you, we admit the said Rs. 15 000 to be due to you and as security for payment of the same we mortgage to you the machineries described in the schedule" The interest payable was 12 annas per cent up to the end of Chaitra and thereafter at Re. 1 per cent, per annum. There was also a provision for payment of compound interest with three monthly rests. The defendants not having paid the money within the due date, the plaintiff instituted the present suit on the 28 June, 1923 for recovery of the money on the basis of the mortgage-bond.

(2.) The defence was that the bond was materially altered, inasmuch as there was no contract for the payment of compound interest and that after execution and attestation of the document and before registration, certain lines were interpolated in the document containing the stipulation as to payment of compound interest and that in these circumstances, the plaintiffs were not entitled to recover the debt.

(3.) The Court below upon the evidence carne to the conclusion that there was a material alteration of the bond and dismissed the suit altogether.