9911796707
TMI Blog1943 (12) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... ages. The date of repayment of both loans was 17th February 1933. 2. On 25th April 1933, the plaintiff commenced the suit out of which the present proceedings arise. It was an ordinary mortgage suit claiming a decree for payment of Rs. 3,88,300 the amount then due to the mortgagees, on default of payment sale of the mortgaged properties, and liberty to apply for the recovery of any balance after sale. The suit does not appear to have been contested; the parties arrived at a compromise agreement to be enforced by a decree, and on 4th July 1933, the decree was made by the Subordinate Judge. As amended by the Chief Court it is as follows: Civil side decree for sale under the terms of compromise (Order 34, Rule 4, Act V of 1908 where the Court declares the amount due). IN THE COURT OF THE SUBORDINATE JUDGE, SITAPUR. Suit No. 27 of 1933. Rai Bahadur Lala Hari Kishandas, son of Lala Gobind Prasad, Khun- khunji Road, Lucknow... Plaintiff, versus 1. Thakur Raghuraj Singh, son of Thakur Baldeo Singh, resident and Taluqdar of Kanmau and Sita Rasoin, District Sitapur, 2. Thakur SheoGanga Bakhsh Singh, son of Sheo Dan Singh, resident and Zamindar of Bilahri, pargana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. 3. That defendant 2 shall execute a deed of relinquishment in respect of those villages which will be sold. 4. That the sale deed in favour of the plaintiff will be absolute but defendant 1 and his heirs, representatives and transferees or to whomsoever he may direct shall be competent in any fallow season in Jeth after 5 years and before another 15th year, whenever he likes, to take back the property sold wholly or in serial order on payment of the stipulated price, and in completing the return of the sale deed the plaintiff and his heirs, representatives and transferees shall have no objection, and every person in whose possession the property sold will stand shall be bound by the said condition and this shall be a main condition of the absolute sale deed mentioned above. 5. That from the date of the sale deed the defendant shall deliver to the plaintiff possession of the property sold and shall cause the mutation of names to be effected. 6. That the price of the property sold has been settled in this way that after deducting revenue, Government remission and sewai items there will be net profit including income from sir and khudkashht for 1339 Fasli according to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gainst an agriculturist. (2) If, on the application of the judgment-debtor, the Court refuses to grant installments, or grants a number or period of installments which the judgment-debtor considers inadequate, its order shall be appealable to the Court to which the Court passing the order is immediately subordinate, and the decision of the appellate Court shall be final. Section 30. (1) Notwithstanding anything in any contract to the contrary no debtor shall be liable to pay interest on a loan taken before this Act comes into force at a rate higher than that specified in Schedule 2 for the period from 1st January 1930, till such date as may be fixed by the Local Government in the Gazette in this behalf. (2) If a decree has already been passed on the basis of a loan and remains unsatisfied in whole or in part, the Court which passed the decree shall on the application of the judgment-debtor amend it by reducing, in accordance with the provisions of Sub-section (1), the amount decreed on account of interest. (3) A decree amended in accordance with the provisions of Sub-section (2) shall be deemed to bear the date of the original decree and, notwithstanding any provision in any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ale as sought for for Rs. 3,88,300-2-6 may be passed in favour of the plaintiff against the defendants. It then proceeds in Clause (2) to provide that as to the satisfaction of the decree money the defendant shall execute in favour of the plaintiff a sale deed in respect of villages to be selected by the plaintiff which will be sufficient to satisfy the decree money and within a week complete the sale deed. It has a provision in Clause (4) providing that the sale deed should be absolute but that after five years the defendant was to have the right to take back the property on payment of the stipulated price: and a provision that the price should be fixed at a capital sum on which the net profit of the villages shall return 4-1/2 per cent, per annum. The position therefore is that in a suit in which the plaintiff was entitled to a preliminary decree for sale followed by a final decree for sale the parties agreed to forego any preliminary decree. It was rightly conceded by the creditor's counsel that this did not invalidate the final decree. If the parties had not come to terms the final decree might have given the creditor the right to bid, and if his bid was accepted the price ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
