JUDGMENT

Srivastava, J - This is a defendants' appeal against the decree dated 21st August 1931 of the learned Subordinate Judge of Mohanlalganj, Luck-now, modifying the decree dated 31st March 1931 of the Munsif, South Lucknow.

2. The defendants-appellants on 11th May 1920 executed a mortgage deed in favour of the plaintiff for Rs. 150. The agreement in respect of interest was that the principal amount would carry interest at the rate of 2 per cent per mensem. In case of default in payment of interest each month the unpaid interest was to be added to the principal and the whole amount was to carry interest at the rate of six pies per rupee per month which works out to about 187 per cent per annum. The defendants pleaded that the rate of interest was usurious and ought to be reduced.

3. The trial Court after giving the de-fondants credit for a sum of Rs. 263, which had admittedly been paid to the plaintiff, gave him a decree for Rupees 1,000. On appeal the learned Subordinate Judge calculating interest at 24 per cent per annum compounded yearly has reduced the amount of the decree to Rs. 818-14-0.

4. That the rate of interest provided in' the deed is exorbitant and usurious can admit of no doubt. The only question is as regards reasonable interest which should be allowed to the plaintiff. We think that interest at the rate of 24 per cent per annum simple would be quite reasonable. The plaintiff himself in 1929 obtained a deed of mortgage with regard to a portion of the property mortgaged by the defendants and the rate of interest provided therein is only 18 per cent simple.

5. We therefore allow the appeal in part and give the plaintiff a decree for the principal and interest at the rate of 24 per cent per annum simple from the date of mortgage till the date of this decree. The defendants will be given credit for the payment of interest aggregating Rs. 263 as entered in the plaint. A preliminary decree for sale will be prepared and six months' time will be allowed for payment. The plaintiff will get proportionate costs in the trial Court, but we make no order as to costs in this Court and in the lower appellate Court.