An appeal filed to reduce the rate of interest granted in an impugned judgment. Upon consent of both parties, the court disposed of the appeal by modifying the interest rate to 10% per annum simple.
Case disposed by order commending parties' consent whereby rate of interest is fixed at 10% per annum simple.
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
DLF COMMERCIAL DEVELOPERS LTD ..... Appellant Through: Mr. Virender Goswami, Advocate with Ms. Soni Singh, Advocate, Mr. Shami K. Saha, Advocate with Ms. Lakshmi Kapur, Advocate (M. No.9899697706).
versus
SHIV SHARMA & ANR ..... Respondents Through: Mr. Bhaskar Tiwari, Advocate with Mr. Ramakant Shukla, Advocate for respondent No.1 (M. No.9810146082).
CORAM: HON'BLE MR. JUSTICE VALMIKI J. MEHTA O R D E R
% 01.11.2018
of interest vide order dated 24.07.2018, and which order dated 24.07.2018
reads as under:-
“ C.M. No.29026-27/2018(exemption)
+RFA No.576/2018 and C.M. No.29028/2018(stay)
reduction of the very high rate of interest granted by the impugned judgment at 18% per annum.
by modifying the impugned judgment and decree that the rate of interest
granted by the trial court of pre suit period, pentente lite and future will be 10% per annum simple with the further clarification that 10% per annum pendente lite and future interest will be payable on the suit amount being Rs.8,45,115/- plus simple interest thereon @ 10% from 01.05.2001 till the date of the filing of the suit on 3.6.2011.
order.
VALMIKI J. MEHTA, J
NOVEMBER 01, 2018 Ne
1 issue framed by the court
Whether to permit reduction of interest rate as sought by the appellant
DLF Commercial Developers Ltd
Shiv Sharma & Anr
Valmikij Mehta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
