Disposed

Bank of Baroda v. M/s Kishan Khaad Beej Bhandar

DRT1 Aug 2025OA/287/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal accepted the defendants' submission that they are ready to pay dues immediately but contested the claimed interest rate. Exercising discretion under Section 34 of the CPC, the court reduced pending interest to 10% simple interest per annum if payment is made within one week, otherwise the contractual rate applies.

What did the court decide?

Interest on the claimed amount reduced to 10% simple interest per annum pending payment within one week; otherwise, contractual rate applies.

Bank of Baroda versus M/s Kishan Khaad Beej Bhandar — Banking and Recovery | DRT (2025)

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	DEBTS RECOVERY TRIBUNAL, PATNA
Date of order or proceeding	Order with the Signature of the Court
	OA 287 of 2024
01.08.2025	Ld. counsels for the parties are present. Ithas been submitted on behalf of the Ld. Counsel of the defendants that the defendants do not want to contest the amount claimed under the OA. However, the rate of interest as claimed for the period of pendency of this case, prayed to be reduced on the ground that the defendant is not contesting the case and ready to pay the dues immediately. Considering the aforesaid circumstances, in view of the discretion under section 34 under Civil Procedure Code, it is directed that if the payment is not made within one week, the interest rate will be charged at contractual rate of interest. Bbut in event of payment within one week, the interest over the amount claimed shall stand reduced @ 10% simple interest p.a., for the period of pendency of the OA till the date of payment. The recovery certificate will be be issued after expiry of one week. Accordingly, the present OA stands disposed off. Order be uploaded on the Tribunal's website. Patna (Kaushalendra Yadav) Presiding Officer

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Office action
taken with date

Bank of Baroda v. M/s Kishan Khaad Beej Bhandar

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. M/s Kishan Khaad Beej Bhandar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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