LALA BISHAMBER NATE Vs. FIRM RGBANSAL AND CO

JUDGEMENT

(1.) One Riaz-ud-din on January 30th, 1920, executed a usufructuary mortgage- deed of his house in favour of Bishambhar Nath and on the same day Bishambhar Nath executed a lease of the houses in favour of Riaz-ud-din. A rate of interest was specified in the mortgage-deed and a sum exactly equivalent to this interest Was named as the rent provided for by the lease. The periods of the mortgage and the lease were identical and mutual references were made in the deed and in the lease inter se to each other.

(2.) On August 9th, 1922, Raiz-ud-din executed a usufructuary mortgage in favour of R. G. Bansal & Co., for Rs. 12,000 by the terms of which Rs. 11,000 were to be paid to Bishambhar Nath in discharge of his mortgage. This condition was, however, never carried out.

(3.) On November 29 1922, Riaz-ud-din executed a third usufructuary mortgage in favour of Bishambhar Nath for Rs. 12,000. This mortgage also, like the first was accompanied on the same day by a lease from Bishambhar Nath to Riaz-ud-din.