PARSOTAM NARAIN Vs. BENARES BANK LTD

JUDGEMENT

(1.) The suit which has given rise to the present appeal was instituted by the Benares Bank, Limited, against the defendants-appellants and certain other members of their family for recovery of Rs. 27,261-9-4 on foot of a mortgage, dated 1 September 1911.

(2.) The mortgage in suit was executed by Babu Jagdish Narain for himself and as guardian of his minor sons, Parsotam Narain, Hari Narain and Maharaj Narain, and by Babu Raghubir Narain for himself and as guardian of his minor sons, Gopal Narain, Prahlad Narain and Narsingh Narain. Suraj Narain and Dip Narain, two adult sons of Jagdish Narain also joined in the mortgage. Substantial zemindari and house property was mortgaged to secure a debt of Rs. 28,000, and the stipulated rate of interest was twelve annas per cent. par mensem with half yearly rests. The mortgagors agreed to pay the mortgage money in five years. In the year 1913 the mortgagors paid two sums of money, viz., Rs. 3,500 and Rs. 628 4- 9, to the plaintiff bank. In 1919 the mortgagors sold one of the mortgaged villages, viz., Sheodaspur, for Rs. 29,700. This amount was also paid to the plaintiff Bank. Sheodaspur has been released from the present claim. The total sum received by the bank up to the date of the suit is Rs. 33,828-4-9.

(3.) The present action was commenced on 2nd day of August 1923. Jagdish Narain one of the mortgagors had died a few years before the institution of the suit.