14,000 as repayment.
This plea was number accepted and a preliminary decree was passed for the full claim on August 12, 1953.
7,900.
Appeal by special leave from the judgment and decree dated October 15, 1959 of the Punjab High Court Circuit Bench at Delhi in R.F.A. No.
per annum simple and future interest was awarded also at the same rate.
The defendants admitted the mortgage and the companysideration but pleaded that the rate of interest was both penal and excessive.
15,027 by applying the provisions of the Punjab Relief of Indebtedness Act.
Hazarilal alone appealed on January 5, 1954 R.F.A. No.
Before the appeal was disposed of Inderjit and Satya Narain, sons of Hazarilal, filed a suit for a declaration that the properties were ancestral and belonged to a joint family.
1 It was held in that case that the provisions of the Punjab Relief of Indebtedness Act applied to a case in which a decree had already been passed and an appeal was pending at the time the amendment was brought into force.
7,900 and of the rate of future interest to 9 per cent per annum.
The, main grounds and they are the grounds urged in this Court were that s. 5 of the Punjab Relief of Indebtedness Act merely amended s. 3 of the Usurious Loans Act, that neither section applied to the facts of the case and that numbersuch plea was taken in the companyrt below.
Against the order vacating the stay they filed an appeal F.A.0.
They claimed that the properties companyld number be sold and asked for a temporary injunction which was first granted and later vacated.
The decree.
The mortgagees also filed in that appeal a petition S.M. 1318 D of 1957 for vacation of the stay order.
The preliminary decree was modified by reducing interest up to, the date of the suit to Rs.
T. Desai, D. R. Prem and Mohan Beharilal, for the appellants.
R.F.A. 1 D of 1954 came up for hearing on October 15, 1959 before a Divisional Bench and by the judgment under appeal the amount of interest in the mortgage was, reduced by Rs.
1 D of 1954 and asked for reduction of interest by Rs.
Me Divisional Bench followed an earlier decision of the same companyrt reported in L. Ram Sukh Das v. Hafiz ul Rahman and others.
246 of 1964.
11,665 by applying the rate of 7 1/2 per cent.
As the mortgagors made default in payment of interest and also did number pay anything out of the mortgaged amount a suit was filed for enforcement of the mortgage by sale of properties.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
During the pendency of this appeal the decree was made final on April 3, 1954.
76,692/9/8, by calculating interest at 9 per cent per annum for the first 3 months and at 12 pet cent per annum till institution of the suit and allowing credit for Rs.
Court fee was paid on Rs.
C. Chatterjee, and H. P. Wanchoo, for respondents Nos.
On October 29, 1958 the legal representatives of Hazarilal respondents 1 to 5 presented an application under s. 3 of the Usurious Loans Act, as amended by s. 5 of the Punjab Relief of Indebtedness Act, when the latter Act was extended to Delhi on June 8, 1956 under s. 2 of Part C States Laws Act, 1950 30 of 1950 and claimed that interest in excess of 71 per cent per annum companyld number be awarded in this suit.
The claim was for Rs.
holders opposed the application on several grounds.
1 to 5.
On January 17, 1946, Hazarilal predecessor of respondents 1 to 5 and one Jagat Narain respondent 6 executed a simple mortgage deed for Rs.
5 and 6 of the Punjab Relief of Indebtedness Act which were extended to Delhi on June 8, 1956.
The Judgment of the Court was delivered by Hidayatullah, J. In this appeal by special leave against the judgment and decree of the Punjab High Court dated October 15, 1959 the only question is whether, in the facts to be stated presently, the High Court was right in reducing interest in a preliminary mortgage decree dated August 12, 1953 by applying ss.
an application for review and another for a certificate, the decree holders filed this appeal after obtaining special leave of this Court In this appeal it is companytended on behalf of the decree holder that s. 5 of the Punjab Relief of Indebtedness Act can only apply to a suit instituted or pending after the section companyes into force and number in an appeal after the suit has ended in a decree.
1 per cent per month for the period of default.
68 D of 1957 and obtained temporary stay from the High Court.
1 D of 1954.
Tiryugi Narain, for respondent No.
50,000 with interest at 9 per annum or in default of payment of interest for 3 months at Re.
