CHANDRASEKHARA MENON, K.K.NARENDRAN
NAFEESUMMA – Appellant
Versus
INDIAN OVERSEAS BANK – Respondent
1. The 3rd defendant in a suit for realisation of money secured by an equitable mortgage filed by a Bank (which now is a nationalised one) is the appellant. The court below has passed a preliminary decree for sale of the mortgaged properties plaint. A schedule properties for realisation of a sum of Rs. 1,46,643-24 with interest on the principal amount of Rs. 1,25,000/ - at the rate of 6% per annum from the date of suit till realisation and also for costs of the suit The only relief which the 3rd defendant prays for is payment of the decree amount in instalments as she is entitled to being an agriculturist under S.4 (3) read with the proviso to clause (1) of S.2 (4) of the Kerala Agriculturists Debt Relief Act (shortly stated the Act). However the time fixed as per the Act for payment of these instalments are already over. The appeal as such have become infructuous. Hence it is dismissed, but in the circumstances of the case without costs.
2. However, we have to deal with the Cross Objections filed by the Bank in the matter. The contentions raised by the Bank are:
(i) the principal amount sued on is Rs. 1,39,130-03 and not on R. 1,25,000/-as erroneously assumed by the cour
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