Judgement

WANCHOO, J. : This is an appeal by special leave against the judgment and decree of the Assam High Court and arises in the following circumstances. The Gauhati Bank Limited (hereinafter referred to as the bank) brought a suit against the appellants for the recovery of Rs. 40,000. Its case was that appellant No. 1 had been dealing with the bank for the needs and business of the family consisting of himself and the other appellants as karta of the family, and in that connection he had an open, mutual and current account with the bank. In that connection moneys were borrowed from the bank and moneys were also paid into the bank and a current account had been opened in the name of appellant No. 1. On March 1, 1947, a sum of Rs. 15,956-7-0 was due to the bank from the appellants. In order to pay off that amount, a mortgage-deed was executed by the appellants in favour of the bank for Rs. 15,956-7-0, and some land, a house, a fixed deposit and three policies were given as security thereunder. The mortgage-deed also provided that the bank would advance money upto Rs. 16,000 to the appellants as and when they required it. Interest would be payable at Rs. 6 per cent per annum with