Ramchandra Krishna Phalke and Ors. v. Satara Dist Agrucultural Rural and Multipurpose Dev. Co. Op Bank Ltd. and Ors.
Case brief
What is this about?
The High Court held that while review applications regarding the omission of interest were not maintainable as not being clerical mistakes, the writ petitions challenging the recovery certificate order were entertained to secure ends of justice, directing the bank to pay interest at 6% p.a.
What did the court decide?
Directed the Respondent Bank to pay interest at 6% per annum on principal amounts covered by Recovery Certificates from 25/03/2009 until the date of payment, to be settled within 4 months.