KOSHI, VAIDIALINGAM
Palai Central Bank Ltd. – Appellant
Versus
C. Ramaswami Nadar – Respondent
1. These two appeals arise from an order, dated 17-2-1957, made by the learned District Judge of Trivandrum in the proceedings before him to execute the decree of the Nagercoil District Court in O.S. No. 66 of 1953. The Nagercoil District Court had transferred the decree to the Trivandrum District Court for execution and when the decree holders, the Palai Central Bank Ltd., applied for execution, judgment debtor No. 1, (defendant) raised objections thereto on two grounds. The learned District Judge repelled one objection and accepted the other. Hence these two appeals, one by the decree holders Bank and the other by judgment-debtor No. 1.
2. For a proper appreciation of the objections raised to the execution it is necessary to state a few facts. The suit O.S. No. 66 of 1953, was on the basis of an overdraft security bond (Ex. A in the suit) which judgment-debtor No.1 had executed in favour of the decree holder Bank and that agreement provided for advances to be made to a limit of Rs. 75,000. The plaint claim, however, came to Rs. 1,51,514/8. This was because the security bond sued upon contained a provision that in case interest at the stipulated rate or any portion ther
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