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Judgment
The only point argued is the question of priority raised in the third issue. It is contended that the principle laid down by the Privy Council in
Gokaldas Oopaldas v. Puranmal ILR (1884) C. 1035 is applicable only to the case of a purchaser of the equity of redemption. There is no ground
for limiting the principle to that case only. It is true that that is the only case provided for by Section 101 of the Transfer of Property Act, but that is
a--if not the--very extreme case where otherwise an extinguishment of the charge would ordinarily be presumed. This Gourt has in several
instances applied the principle to cases like the present. Rupabai v. Audimulam ILR (1888) M. 346 and Seetharama v. Venkatakrishna ILR
(1893) M. 94 and see also the the judgment in appeal No. 113 of 1895, The Subordinate Judge was therefore right in holding that by the mere
execution of A, the security under E in respect of the plaint debt was not given up.
The appeal accordingly fails and is dismissed with costs.