JAGMOHAN REDDY, P.CHANDRA REDDY
General and Credit Corporation (India) Ltd – Appellant
Versus
Sri Raja Inuganti Venkata Rama Rao Bahadur Garu – Respondent
( 1 ) THIS is an appeal against the order of the States Abolition Tribunal, Chittoor, dated 5-1-1953.
( 2 ) THE appellant filed a claim before the Tribunal on the basis of a mortgage created by the first respondent on 16-11-1941, over certain villages, which were subsequently taken over by the Government in pursuance of the provisions of the Madras (Estates Abolition and Conversion into Ryotwari) Act, 1948 for a sum of Rs. 15,500. 00. This amount was to any interest at ten per cent per annum with yearly rests. There was also a stipulation that the interest accruing should be paid every month to the mortgagee. Obviously, nothing was paid by the mortgagor. On two of the three villages forming the subject matter of the mortgage, being taken over under the Estates Abolition Act, the Government deposed a sum of Rs. 26,000. 00 and odd under Section 54-A of the aforesaid Act. Thereupon, the mortgagee, i. e. , the present appellant, applied to the Tribunal on 31-8-1951 for payment of the amount due to him under the mortgage.
( 3 ) IN the counter filed by the first respondent while the truth and validity of the mortgage bond was not denied, it was pleaded that the rate of
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