JAGANNATH GANGANARAYAN MAHESHWARI Vs. FATECHAND RATANCHAND OSWAL

JUDGEMENT

(1.) THE point for determination in the revision case is if in a suit to redeem the pledge of ornaments the court-fee is payable under Section 7, Clause (ix), Court-fees Act on the principal amount of the loan or on the market value of the ornaments under Section 7, Clause (iii) of the Act.

(2.) THE plaintiff appellant brought the suit alleging that he took a loan of Rs. 3500 from the defendant on pledge of certain specified ornaments. The amount now due for the loan with interest is alleged to be Rs. 7,000 and the plaintiff claims that on payment of this sum by him the defendants should return the ornaments in specie. For purposes of court-fee the suit has been valued at Rs. 3,500 under Clause (ix) of Section 7, Court-fees Act which provides for suits on mortgages, The trial Court finds that the transaction is not a mortgage and so Clause (ix) will not apply. The only other clause applicable would then be Clause (iii) of Section 7 of the Court-fees Act and it has been ordered that according to that clause court-fee should be paid on the market value of the ornaments. Against that order this revision is filed.

(3.) NANHUJI v. Chimna 7 N.L.R. 72, was a case of mortgage of future crops about which it was held that the transaction was not governed by the Transfer of Property Act but the rights and remedies of the parties to such a transaction must be regulated by the Courts according to the law of contract supplemented by principles of justice, equity and conscience.