This is an appeal from the judgment and decree passed by Ramaswami, J., in a suit instituted on the Original Side of this Court, C.S. No. 72 of 1950. The suit was for the recovery of the amount due under four mortgages which were executed by one Dhanakoti Ammal in favour of the plaintiff, Srinivasa Varadachariar, on 20th March, 1936, 14th September, 1936, 27th July, 1937 and 2nd January, 1938 for sums of Rs. 25,000, Rs. 9,000, Rs. 7,000 and Rs. 7,000 respectively. The terms relating to the interest were the same in respect of each of these four mortgages, namely, Rs. 15 per cent. per annum compound with quarterly rests. A favourable rate of interest at 12 per cent. per annum was, however, provided in case of payment of interest due for each month by the 20th day of succeeding month. Dhanakoti Ammal was adjudged insolvent and her estate vested in the Official Assignee, Madras. The Official Assignee sold the four items mentioned in the plaint schedule comprised in the four mortgages to Dr. Gopala Menon on 6th July, 1944. The sale was subject to the aforesaid four mortgages. Though there were several defendants in the suit, the main contesting defendant was Dr. Gopa