HIRA LAL SAHU Vs. LACHMI PRASAD NARAIN SINGH

JUDGEMENT

(1.) This is an appeal by the plaintiffs against a judgment and decree, dated December 22, 1926, of the High Court of Judicature at Patna, which affirmed a judgment and decree of the Subordinate Judge of Motihari, dated March 6, 1923.

(2.) The plaintiffs are members of a joint family, and they carried on a money- lending business which was supervised by the first plaintiff who was Karta of the family.

(3.) The defendant began to borrow money from the plaintiffs on the 20 of Pous 1310 Fasli (i.e., January, 190S), when a sum of Rs. 300 was advanced and after the expiration of fifteen months eleven days interest was debited to the account, Further sums were advanced from time to time, and the accounts were adjusted periodically, the last adjustment having taken place on the 25 Jeth 1324, corresponding to May, 1917, so that the account between the parties was running for about fourteen years. Simple interest was charged upon each advance from the date of such advance until the date when the principal sum and interest were carried into a separate column of the account. The periods during which the interest was charged varied. The account was then adjusted and interest calculated on the total amount found due, so that compound interest was charged. During the time the accounts were submitted to the defendant and on nine occasions he signed the accounts, the first occasion being 10 Majh 1312 and the last occasion being 25 Jeth 1324 Fasli.