Civ. Appellate court allowed part of Bank of India's appeal modifying the trial decree to treat prior interest as principal, relying on Central Bank of India v. Ravindra.
Impugned decree modified to treat Rs. 4,00,653.13 as principal amount instead of Rs. 1,99,000/-.
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1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION.
FIRST APPEAL NO.824 OF 1995.
Bank of ndia : Appellants.
versus
Shri Vilas Gangaram Adake
& ors. : Respondents.
Mr.C.R.Dalvi for the appellants.
None for the respondents.
CORAM : D.G.DESHPANDE,J.
DATED : 4th April 2005.
ORAL ORDER
1. Heard Mr.Dalvi for the appellants/Bank.
This appeal is filed by the bank. Even though
there was a decree in favour of the bank, the
only thing that is challenged is that the trial
court awarded interest only on the principal
amount. According to Mr.Dalvi when on the date
of suit the principal amount along with the
2
interest was Rs.4,00,653.13 ps, then that become
the principal amount and not Rs.1,99,000/-. He
relied upon the judgment of the Supreme Court
reported in AIR 2001 SC 3095 [Central Bank of
India v. Ravindra]. Therefore, in view of this
judgment, this appeal is required to be partly
allowed. Hence I pass the following order :-
:ORDER:
The appeal is partly allowed.
The impugned judgment and decree of the
trial Court is modified as under :-
The amount of Rs.4,00,653.13 ps is
treated as principal amount and not
Rs.1,99,000/-. Rest of the order of the
trial Court remains as it is.
No order as to costs as nobody is present
for the respondent Nos.1 to 3.
[D.G.DESHPANDE]
04/04/2005 JUDGE.
2 issues framed by the court
Whether interest awarded on principal amount at the date of suit should be treated as part of the principal for future calculations.
Whether the impugned decree awarding interest only on the original principal requires modification to include prior interest as principal.
Colour shows how this judgement treated each authority
Central Bank of India v. RavindraRelied on¶14
AIR 2001 SC 3095 · Who else cites this
Bank of India
Shri Vilas Gangaram Adake & ors.
D.G.DESHPANDE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court