SANKARAN, GANGADHARA MENON
Kochukunju – Appellant
Versus
Joseph – Respondent
1. Defendants 1 and 2 are the appellants. In resisting the plaintiffs' suit for recovery of the moneys due under Ext. A hypothecation bond, these defendants had contended that the interest claimed in the plaint is excessive and that plaintiffs are entitled to claim only the principal amount together with a moiety of the same by way of interest up to the date of the suit. The rate at which the interest was calculated by the plaintiffs was also objected to. The lower court repelled these contentions and gave a decree to the plaintiffs for recovery of the plaint amount with interest from the suit properties. Defendants have, therefore, come up in appeal.
2. The execution of Ext. A bond as well as the liability under it are admitted by the contesting defendants who are the appellants. Their main contention is about the calculation of the interest due to the plaintiffs. In the plaint calculation, the arrears of interest for each year have been added on to the principal and subsequent interest is calculated for the total amount. Plaintiffs adopted this kind of calculation on the strength of the provision contained in Ext. A that the arrears of interest will also be treated as
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