Judgement

Appeal (No. 108 of 1925) from a decree of the High Court (December 5, 1923) which varied a decree of the Subordinate Judge of Howrah.

The suit was brought by the first three respondents to enforce by sale a mortgage bond dated May 2, 1907. The plaintiffs were assignees of the mortgage debt. The bond provided for interest at 12 per cent, per annum with quarterly rests.

The issues framed on the pleadings included (2.) was the bond executed under undue influence? (5.) Is the stipulation for interest and compound interest illegal, void, and unconscionable?

Law. Rep. 54 Ind. App. 1 ( 1926- 1927) Jagannath Prosad Singh C howdhury V. Surajmal Jalal

139

The Subordinate Judge found all the issues in favour of the plaintiffs, except issue 5. He allowed interest at 9 per cent, until the date of the institution of the suit, and 6 per cent, from that date until payment.

The defendant-appellant did not appeal, but the plaintiffs-respondents appealed as to the interest allowed. The High Court (Chatterjea and Cuming JJ.) allowed the appeal and made a decree for interest at 12 per cent, per annum with quarterly rests, as stipulated in the bond, to the date fixed by the decree for payment,