ANANDI LAL Vs. RAM SARUP

JUDGEMENT

(1.) This is an application of Lala Ram Swarup and others in which the applicant prays the Court to appoint a receiver of certain mortgaged properties.

(2.) On 30 October 1922 a mortgage-deed was executed by one Ganga Ram who was the manager of a joint Hindu family and one Piare Lal in favour of the applicant's father. The sum advanced to the mortgagor was Rs. 1,05,000. This sum was advanced at the rate of 9 annas per mensem compoundable every six months. The prescribed term of the mortgage was three years, that is the money was repayable to the mortgagee on 30 October 1925. The money was not repaid in 1925 and the payment of interest appears to have been very irregular. In 1933 the plaintiffs filed a suit in which they claimed Rs. 1,49,264 plus interest. On 8th September 1934 a preliminary decree was passed in favour of the plaintiffs for a sum of Rs. 1,72,527. Against this decree the defendants to the suit have preferred a first appeal in this Court. The applicants have since obtained a final decree in their favour for the amount above mentioned. The applicants pray that in the special circumstances of this case a receiver be appointed to take charge of the mortgaged property pending the result of the appeal against the decree on the basis of the mortgage-deed.

(3.) It appears that included in the mortgaged property were certain stone quarries and it is alleged by the applicants that since the institution of the suit upon the basis of the mortgage the defendants have been mining these quarries at an abnormal rate and that as a result the value of the mortgaged property is depreciating. The defendants have opposed this application and they themselves filed an application which is before us in which they pray the Court that pending the result of their appeal the execution of the plaintiffs decree should be stayed.