NESARGI, VENKATACHALAIAH
LIFE INSURANCE CORPORATION OF INDIA – Appellant
Versus
B. R. HONNAPPA – Respondent
( 1 ) THE Life Insurance Corporation of India is the appellant in both these appeals which are filed against the orders of the Civil Judge, Bangalore. The appellant filed two execution petitions before the lower Court for realising the decretal amounts due under two separate mortgage decrees against two different sets of judgment-debtors, and in both the cases the lower Court held that the decrees had been satisfied. Aggrieved by the order of the lower Court, the appellant has filed these appeals. Since the question of law raised in both these cases is common, we find it convenient to dispose of these appeals by this common judgment.
( 2 ) THE question of law involved in these two appeals relates to the mode of appropriation of payments made by the judgmenti-debtors. The contention of the judgment-debtors is that if adjustment is made after allowing counter-interest at the rate prescribed by the decree on all the sums paid by them from time to time the decrees in both the cases must be held to have been fully satisfied. Agreeing with the above contention of the judgment-debtors the Court below has held that the decrees in question are fullly satisfied.
( 3 ) SRI M
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