Judgement

Appeal (No. 84 of 1924) from a decree of the High Court (April 12, 1921) affirming a decree of the Subordinate Judge of Allahabad (May 31, 1918).

The suit was brought by the appellants on February 21, 1917, to recover Rs. 34,000 under a mortgage bond dated February 21, 1893, by sale of the mortgaged property.

The sole question upon the appeal was whether the suit was barred by art. 132 of Sch. I. of the Indian Limitation Act, by which the period of limitation for a suit " to enforce payment of money charged upon immovable property" is twelve years from " the time when the money sued for becomes payable.”

The facts appear from the judgment of the Judicial Committee.

The mortgage deed, after stating the necessity for the loan, provided, so far as is material, as follows —" We have borrowed from Pancham Dube, .... a sum of Rs. 4000 of the Queens coin, half of which comes to Rs. 2000 of the said coin, carrying interest at rupee one per cent, per mensem stipulated to be repaid in twelve years. We covenant .... that we shall continue to pay towards the amount payable under this bond a sum of Rs. 500 per annum on account of principal and interest. It is stipulated that the amoun