1. This is an appeal by a mortgagee and his two tenants directed against the judgment and decree of the lower Appellate Court, which while affirming the decree of the trail Judge with regard to the right of redemption of the mortgagor has reduced the rate of interest from 51/2 per cent to 3 per cent on the mortgage amount. The appeal, therefore, is concerned only with the rate of interest or the mortgage amount, whether it is payable at the rate of 51/2 per cent or 3 per cent.

2. The respondent Banwari Lal mortgaged a double-storeyed shop in Kucha Lal Rura Mal in Ludhiana City with Karam Chand for a sum of Rs. 4,000/- by a document executed on the 9th of February 1942. The interest was payable at the rate of 3 per cent and the mortgage was described to be as one with possession. It seems, however, that the mortgagor remained in possession and continued to pay rent to the mortgagee till the 10th of August 1948 when the property was actually delivered to the appellant-mortgagee. The suit for redemption was brought by the mortgagor respondent on the 29th of November, 1961. The real dispute turned on the rate of interest which was payable on the mortgage amount of Rs. 4000/-. T