- (1.) This appeal is directed against the judgment and decree passed by the Additional District Judge No. 1, Jodhpur on 19th November, 97 in civil suit No. 155/95 by which the plaintiff-respondent's suit was decreed against the appellant-defendant for a sum of Rs. 69,392/- with interest on the principal amount of Rs. 49,649.00 @ 14% per annum from the date of the institution of the suit to the date of payment. By the impugned judgment and decree the respondent-defendant was further authorised to sell the property which had been hypothecated by the appellant-plaintiff for the purpose of recovery of the decretal amount.
(2.) The facts relevant for the disposal of this appeal may be briefly stated as below :- Accordingly to the averments made in the plaint, the appellant moved an application before the respondent for grant of loan for the purpose of establishing Aluminium Handicraft. Term loan of Rs. 90,000/- and working capital to the extent of Rs. 16,000/- was sanctioned by the respondent. An agreement was executed between the parties on 12-2-1988. The agreement contained the terms as to rate of interest and the manner of computation of agreement, the appellant agreed to pay the amount of loan in instalments of Rs. 600/- per month. The first instalment was payable in May, 1988. Machinery and other property used by the appellant for the purpose of carrying his business was hypothecated with the respondent. The respondent filed a civil suit No. 155/95 for the purpose of recovering the amount of loan as well as interest. The respondent pleaded in the plaint that at the instance of the defendant, several payments were made against the goods, which the defendant wanted to purchase and these payments were entered in the account of the defendant. It was also stated in the plaint that a sum of Rs. 1000/- was paid by the defendant on 27-1-95. The remaining amount of the loan remained unpaid in spite of the demands made on behalf of the defendant. Consequently, the suit was filed with a prayer that a decree for Rs. 69,392/- be passed against the defendant.
(3.) Regarding the cause of action, it was stated in the plaint that the cause of action accrued on 12-2-88 when the agreement for loan was executed and the cause of action also accrued on the day when the interest, which had accrued on the amount of subsidy was adjusted towards the loan amount and also on 13-3-93 and 31-3-93 when two documents executed by the defendant acknowledging her liability to pay the amount. It was stated in the plaint that cause of action also accrued on 27-1-95 when the sum of Rs. 1,000/- was paid by the defendant.;