Soumen Sen, J.—The plaintiff has instituted this suit for recovery of money lent and advanced and for enforcement of mortgage. The case made out by the plaintiff in the plaint is summarized below.

2. On or about 26th September, 1994, the plaintiff had lent and advanced a sum of Rs.20 lacs to Ajit Nain, defendant no.1, on terms of an agreement that the said sum would be repaid by him in five monthly installments of Rs.4 lacs each commencing from January 1995 to May 1995. The agreement provided that the said loan would carry an interest at the rate of 18% per annum to be paid on monthly basis by the defendant commencing from 25th October, 1994 on reducing balance. In the event of default of payment or either the principal or the interest, the defendant no.1 would pay penal interest of 1% per month. In consideration of the plaintiff agreeing to grant such accommodation loan to the defendant No.1 and as security thereof, the defendant No.2 would mortgage a flat owned by Ashok Nain at “Monalisa Co-operative Housing Society”, being Flat No.6D, 17, Camac Street, Kolkata, in favour of the plaintiff. The defendant No.2 is the brother of the defendant No.1. On the basis of such agreem