K. N. MISRA, J.

( 1 ) THIS First Appeal under S. 96 of the Code of Civil Procedure (for short the Code) is directed against the judgment and decree dated 24-8-1978 passed by Civil Judge, Gonda decreeing the plaintiffs suit with costs.

( 2 ) BRIEFLY stated, the facts of the case are that the plaintiffs filed a suit for recovery of Rs. 50,000/- with interest, pendente lite and future, till the date of recovery. It was averred that the defendant Koori Lal Rungta had taken a sum of Rs. 30,000/- as loan from one deceased Baij Nath Rajgariya at place Seksaria Sugar Mills Private Limited, Babhanan Bhabhinpur, Tahsil Utraul, District Gonda at the rate of interest of 9 per cent per annum. The interest was payable at every three months. It was averred in para 1 of the plaint that the defendant had pledged certain shares to Sri Baij Nath Rajgariya as security for the payment of the loan amount. An agreement is said to have been executed in respect of the said loan transaction on 27th July, 1959. The plaintiffs, who are heirs and successors of the creditor deceased Baij Nath Rajgariya, have given the details of payment made by the defendant in para 4 of the plaint and it is stated that the int