The Calcutta Weekly Notes Law Notes and Notes of Cases of the Calcutta High Court and of the Judicial Committee of the Privy Council and Short Notes of Important Decisions of other High Courts in India Monday June 29 1936

If the Court be entitled to re-open the transaction and allow only such interest as it considers reasonable would it be etitled to dismiss the creditor's suit altogether evcn with regard to the principal when it found that on the footing of interest at the rate which it held to be fair the payments already made by the debtor covered the total amount of interest claimable as also the princip [...] 3 of the Usurious Loans Act "; and in respect of cases where the interest charged may not exceed the statutory limits it goes on to provide that if the Court is nevertheless satisfied that the interest is excessive " the powers of the Court under the said section " i.e. [...] This was a case of a mortgage where part of the consideration was left in the hands of the mortgagees to redeem a mortgage of other lands of the mortgagor in favour of a third person. [...] Where a mortgagee brings a suit against the mortgagor but without impleading the prior purchaser of the equity of redemption —whether by reason of his ignorance of the fact of such purchase or with knowledge of it and purchases the morgaged properties he has a right—ideed he is under a duty to bring a suit against the purchaser of the equity of redemption. [...] Or he can bring a suit in the capacity as purchaser and he gets a new cause of action from the date of the resisance to his taking possession or from the 'date of the purchase if the fact of the prior purchase was already known to the morgagee purchaser.