(Chelikani) Venkatarayanim Garu and others – Appellant
Versus
Venkata Subadrayamma Jagapathi Bahadur Garu, and others – Respondent
Lord Buckmaster:-
Three questions are raised upon this appeal. They all arise out of the rights created under a mortgage deed which was executed on the 2nd March, 1891, in favour of the first plaintiff in the suit by he first defendant. The appellants are assignees of the equity of redemption of that mortgage, and claim that in the accounts takes do determine the true amount due under the deed, three mistakes have been made adverse to their interests. The mortgage deed itself is in a peculiar form. It is a mortgage with possession to secure the repayment of Rs. 1,80,000 with interest at the rate of Rs. 1 per cent. per month; the principal of the debt is to be repaid by sums of Rs. 10,000 payable year after year, begin ning on the 1st February, 1892, down to the 1st February, 1898, and on the 1st February 1899 the entire balance of the debt and the interest is to be paid. These instalments are protected not merely by the security of the mortgaged property but also by an express agreement in these terms : We shall pay to you at Tuni, the principal according to the aforesaid instal ments and the whole of the interest upon the entire debt calculated with reference to the instalments alo
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