The High Court of Delhi disposed of an appeal via consent order, reducing the interest rate from 18% to 10.5% per annum simple. The deposited amount and accrued interest were to be released to the respondent.
Interest rate reduced to 10.5% p.a. simple; deposited amount + accrued interest to be released to respondent.
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
CHOLAMANDALAM INVESTMENT & FINANCE CO LTD & ANR
..... Appellants Through: Ms. Sakshi Arora, Advocate (M. No.9582973360).
versus
ANIL AGGARWAL ..... Respondent Through: Mr. Parikshit Mahipal, Advocate (M. No.9868873986).
CORAM: HON'BLE MR. JUSTICE VALMIKI J. MEHTA O R D E R % 07.01.2019
order that rate of interest granted by the trial court at 18% per annum simple is reduced to 10.5% per annum simple. Rest of the judgment will remain as
it is. Whatever amount has been deposited by the appellants in this Court be released to the respondent alongwith accrued interest in appropriate satisfaction of the impugned judgment and decree.
VALMIKI J. MEHTA, J
JANUARY 07, 2019 Ne
1 issue framed by the court
Whether the rate of interest granted by the trial court should be reduced based on the consent of parties
CHOLAMANDALAM INVESTMENT & FINANCE CO LTD
ANIL AGGARWAL
VALMIKI J. MEHTA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
