The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @7.50%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly. 11. In the result, the application is allowed declaring that the defendants are liable to pay to the applicant interest @7.50%p.a. on Rs.30,09,544.74p (Rupees Thirty Lacs Nine Thousand Five Hundred Forty Four & Seventy Four Paise only) from 01.12.2021 to 30.01.2023 and a total sum of Rs.12,44,544.74p (Rupees Twelve Lacs Forty Four Thousand Five Hundred Forty Four & Seventy Four Paise only) jointly and severally, with costs, current and future simple interest @7.50%p.a. in the loan account from 31.01.2023 till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of the defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.
