This is an application for ad-interim injunction filed in C.S. No.322 of 1954.

2. The facts are: The Plaintiff V. Narasimhachariar is a retired Assistant Secretary of the Government of Madras. The Defendant is a well-known credit institution of this City with many branches viz. the Egmore Benefit Society, 3rd Branch Limited. The Society is run on the principles of a Nidhi or Permanent Fund viz. takes deposits and lends out moneys on first mortgages, jwellery etc. In fact but for such credit institutions the industrial and commercial life of this city will not be able to progress.

The plaintiff executed a mortgage in respect of his houses No.33 Gengu Reddi Road and No.64 Eg-more High Road, in favour of the defendant Society for Rs.32,000/- payable with interest at 7½ per cent per annum. This amount was borrowed to pay off a prior mortgage of 1947 executed in favour of one Thaiyanayagi Ammal. This loan was a special loan under the bye-laws of this Society repayable within one year viz. on or before 6-12-1951. The mortgage deed expressly conferred upon the mortgagee the power of sale as specified in S.69, Transfer of Property Act. Inasmuch as the Plaintiff was paying regularly