Chaudhary Charan Singh University v. Shanti Niketan IT and Management Institution
2014-03-25
RAKESH KUMAR JAIN
body2014
DigiLaw.ai
JUDGMENT Mr. Rakesh Kumar Jain, J. (Oral):-The defendant is in appeal against the judgment anddecree of both the Courts below by which suit filed by the plaintiff forrecovery of Rs. 92,225/- has been decreed alongwith interest @ 9% perannum from the date of filing of the suit till its realization. 2. Learned counsel for the appellant has submitted that theplaintiff could not have charged 18% interest on the principal amountand the interest awarded by the learned trial Court @ 9% per annumfrom the date of filing of the suit till its realization is also contrary toSection 34 of the Code of Civil Procedure, 1908 [for short ‘the CPC’]. 3. Learned counsel for the respondents has submitted thatinterest @ 18% per annum has been charged as per market rate andthe interest @ 9% per annum granted by the Court from the date offiling of the suit till its realization, is not excessive. 4. I have heard learned counsel for the parties and afterperusal of the record, am of the considered opinion that there is noerror in the judgment and decree of the trial Court except for the rateof interest charged @ 9% per annum from the date of filing of the suittill its realization as it should have been 9% per annum from the dateof filing of the suit till the date of decree and 6% per annum from thedate of decree till its realization. Hence, the present appeal is disposedwith aforesaid modification. ---------0.B.S.0------------