1. The Letters patent appeal arises out of the judgment & decree passed by a Single Judge of this Court in Civil Suit No : 16 of 1969 on October 30, 1978 decreeing the suit in favour of respondent No; 1 for the recovery of a sum of Rs. 18, 050/-

2. A brief resume of the facts will show that respondents 1 & 2 brought a suit for the recovery of Rs. 20, 250/- against the appellant & prayed for the sale of one building with saw mill & furniture of the factory, etc., for the payment of the amount indicated hereinabove alleged to have been mortgaged with respondent No ; 2. Respondent No ; 2 herein was a registered private limited company in the name & style of M/s Rashtriya Loan and Chit Fund Pvt. Ltd., Jammu. Respondent No ; 1 happens1 to be the Chairman of the said company. It is stated that the appellant is related to respondent No 1, who in the beginning of 1966 approached him with a request to advance a loan of Rs. 15, OOO/- as he was in the need of money for advancing his business. Appellant in his turn offered to mortgage his property with respondent No ; 1. Respondent No ; 1 on his part advanced Rs. 5, OOO/- o