Judgment

GROVER, J.:- This is an appeal by certificate from a decree of the Madras High Court.

2. The appellant mortgaged his property bearing No. 162-A. West Masi Street, Madurai town for a sum of Rs. 45,000/- with the respondent Bank on October 14. 1950. He agreed to repay Rs. 5,000/- within a specified date and the balance was payable within two years from the date of the deed together with interest at 10 1/2 %. It was further agreed that if the mortgagor failed to pay the interest periodically and regularly he would be liable to pay interest at the rate of 12% per annum from the date of such default and further if he failed to pay the entire amount stipulated within two years he would have to pay the whole amount together with interest at 3 1/2 % per annum. The sum of Rs. 5,000 was paid within the time specified but the balance remained unpaid. In January 1952, the appellant and his wife borrowed Rs. 25,000/- and jointly executed a pronote. The wife deposited her title deeds relating to premises No. 162 West Masi Street. On June, 25, 1952 the appellant and his wife created a mortgage of their respective properties Nos. 162-A and 162 West; Masi Street to secure repayment of a sum