T.CH.SURYA RAO
Sethmal and Company – Appellant
Versus
Sri Laxmi Paradise (Leela Mahal) – Respondent
( 1 ) THESE two appeals arise out of the judgments and decrees passed by the learned Additional Subordinate Judge, Tirupathi, dated 31-08-1988 passed in OS No. 173 of 1984 and 207 of 1984 respectively.
( 2 ) ONE Mr. W. S. Sitaram, the Power of Attorney holder and the agent of the plaintiffs in the above suits filed and prosecuted the suits as against M/s Sri Laxmi Paradise (Leela Mahal), a partnership concern, and its partners the common defendants. The plaintiffs are the money lenders at Madras. The defendants for the purpose of construction of the 1st defendant theatre approached the plaintiffs on 9-11-1981 for a loan at Madras. The plaintiffs ultimately agreed to advance loans on short term basis on Hundis with interest at 2. 5% per month as per the custom of lending loans at Madras. The defendants had borrowed various amounts on various dates under different Hundis. The 2nd defendant on behalf of the firm deposited the title deeds with the plaintiffs and created an equitable mortgage in favour of the plaintiffs separately, as a security for the due repayment of the loan. As the defendants failed to repay the loan amounts despite several demands, the plaintiffs g
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