1968 Supreme(Mad) 454
K.SRINIVASAN, R.SADASIVAM
M. Lakshmanan Chettiar – Appellant
Versus
Palaniswami Chettiar – Respondent
Advocates:
R. Gopalaswamy Iyengar and M. Srinivasan, for Appellants.
S. Tyagaraja Iyer, V. Syamalam, K. Gopalachari and K. Sarvabhauman for Respondents.
Sadasivam, J.-Appellants filed the suit in the lower Court to recover Rs. 33,440 on three registered security bonds, Exhibits A-1 dated 1st November, 1957, Exhibit A-2 dated 4th September, 1948 and Exhibit A-3 dated 6th April, 1951, executed by the first defendant in their favour for Rs. 5,000, Rs. 10,000 and Rs.13,000 respectively, hypothecating the properties covered by the plaint A, B and C Schedules respectively. The plaintiffs released some of the items of the hypotheca and sued to recover the amounts due to them from the remaining items alone, which are described in the plaint D Schedule. The security bonds were intended to cover future advances upto the limit mentioned in each and such advances were evidenced by promissory notes executed by the first defendant in favour of the plaintiffs. The learned Second Additional Subordinate Judge, who tried the suit, found that the security bonds, Exhibits A-1 to A-3 are true, that the promissory notes Exhibits A-4 and A~8 are fully supported by consideration that the arrangement pleaded by the first defendant in paragraph 4 of his written statement that by virtue of the plaintiffs being in possession of the properties covered by the n
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