9911796707
TMI Blog1935 (11) TMI 21X X X X Extracts X X X X X X X X Extracts X X X X ..... ussammat Damodri, defendant No. 1, mortgaged a house and a shop to Prithmi Chand, defendant No. 2, and Hari Chand, father of defendant No. 3, for Rs. 15,000 agreeing to pay interest at 9 per cent. per annum with yearly rests. In 1925 by consent of the mortgagor and the mortgagees the shop was sold and the sale proceeds were paid to the mortgagees in part payment of the amount due to them. On th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that defendants Nos. 2 and 3 would be liable for any deficiency in case the amount decreed is not raised by sale of the mortgaged property or other property of defendant No. 1, the liability of defendant No. 3 being limited to the assets of his father in his hands; and (3)that the costs of the suit on the amount decreed will be paid by defendant No. 1. Neither party filed any objection to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date, the mortgaged property, or a sufficient part thereof, shall be sold. The plaintiff has appealed urging that there has been miscalculation of the amount due as stated in the decree-sheet, the correct amount payable on the 6th January, 193B being Rs. 3,246-1-6 in excess of that given therein, and praying that future interest at the contractual rate should also have been allowed. A prelimin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her company or person. In the present case the reference to arbitration was not by written agreement of the parties, but was made by the Court in a pending suit. The arbitrator had to submit his report to the Court which had to pass a decree in the suit in accordance with the terms of the award or pass such other order in accordance with law as it thought fit. Such a decree is clearly open to ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterest should not be allowed at such rate as the Court thinks reasonable. We think simple interest at 6 per cent. per annum to be ample and allow future interest at that rate. We accordingly accept this appeal and modify the decree of the lower Court so as to declare that the sum due on the 8th January, 1935 was Rs. 24,712-9-6 and not Rs. 21,466-8-0 as stated in the decree of the lower Court. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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