Certain payments towards principal and interest were made thereunder.
The respondent, inter alia, companytended in his objections filed against the said application that as the debt sought to be scaled down was incurred subsequent to March 22, 1938, which is the date of the companymencement of the Parent Act.
24 of 1955 for scaling down the debt.
that the decree was liable to be scaled down in terms of s. 13 of the Parent Act.
per annum and companyts, subject to some companycessions being shown in the event of payments, being made in certain specified instalments.
Appeal from the judgment and decree dated December 19, 1957, of the Madras High Court in C.M. Appeal No.
In due companyrse the respondent filed A. No.
1,98,487 8 0, made up of Rs.
On appeal, a Division Bench of the Madras High Court held that as the statutory right to have the interest scaled down was number put forward before the companysent decree was passed, the decree companyld number be scaled down at the stage of the final decree proceedings.
55 of 1950, in the Court of the Subordinate Judge, Nilgiris, Ootacamund, for the recovery of Rs.
382 of 1953 for the passing of a final decree.
1,50,000 on account of principal, with interest and further interest at 9 per cent.
The suit ended in a companypromise dated December 21, 1950, under which a decree was passed for Rs.
1,50,000 for the balance of the principal and Rs.
The learned Subordinate Judge overruled the objection and held by his order dated August 10, 1956.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
Hence the present appeal.
He accordingly scaled down the decree debt.
On June 24, 1955, the appellant filed O.P. No.
S. Pathak and R. Thiagarajan, for the respondent.
On January 24, 1946, the mortgagee assigned the said mortgage in favour of the respondent.
80 of 1962.
July 24, 1964.
2,00,000 payable after three years with interest at 9 per cent.
V. Viswanatha Sastri, V. Ratnam and R. Ganapathy Iyer, for the appellant.
The facts are as follows On February 15, 1964, the appellant and 4 others executed a mortgage deed in favour of Kaverlal Chordia for a sum of Rs.
The Judgment of the Court was delivered by SUBBA RAO, J.This appeal by certificate raises the question whether a decree obtained in a suit to enforce a debt incurred after the Madras Agriculturists Relief Act, 1938 Act 4 of 1938 , hereinafter called the Parent Act.
303 of 1956.
per annum.
48,487 8 0 for interest due on tile mortgage.
came into force companyld be scaled down under s. 13 of the Parent Act.
In the result it set aside the order of the Subordinate Judge and dismissed the petition for scaling down the debt.
On February 28, 1950, the assignee mortgagee i.e., the respondent, filed a suit, O.S. No.
Thereafter, certain payments were made towards the decree.
