This order pertains to a summary suit where the plaintiff obtained a decree against the defendant for a default in depositing security. The court decreed the suit modified the claimed interest rate from 15% to 9% per annum.
Suit decreed; interest fixed at 9% per annum on Rs.85,000 from date of suit institution.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
SUMMARY SUIT NO.1713 OF 2003
Rakesh Ramesh Mehta
..Plaintiff
Vs.
Vijay Pravin Kachalia
..Defendant
Miss.Deepti B. Mistry i/b.Divyakant Mehta & Associates, for plaintiff.
CORAM : A.S.OKA, J.. DATE : 9th December, 2009.
1] Heard learned counsel for the plaintiff. The order dated 30th September,
2009 notes that by earlier order dated 20th July, 2005, a conditional leave was
granted to the defendant to defend the suit subject to deposit of certain amount. Learned counsel for the plaintiff states that the amount has not been deposited
within the time stipulated under the said order. The statement is accepted.
documents viz, a demand promissory note in the sum of Rs.85,000/- executed
by the defendant in favour of the plaintiff and other material documents including
an office copy of demand notice and acknowledgment of the said notice. A
copy of reply is also placed on record. The original Bank pass book of the
plaintiff is placed on record. There is no contest.
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further interest at the rate of 15% per annum. Considering facts and circumstances of the case, interest deserves to be granted at the rate of 9% per annum.
modification that the interest shall be paid at the rate of 9% per annum on principal amount of Rs.85,000/- from the date of institution of the suit till the realisation or payment of the amount.
rules.
( A.S.OKA, J. )
2 issues framed by the court
Whether the plaintiff is entitled to a decree given the defendant failed to deposit the security amount?
Whether the interest rate claimed by the plaintiff should be modified?
A.S. Oka
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court