Dismissed

Ram Kishan v. State Bank of India

Punjab & Haryana HC26 Oct 2010RSA/3115/2009

Case brief

AI extract

What is this about?

In this second appeal, the appellant challenged the interest rate awarded to the respondent-bank in a suit for recovery of a sum of ` 7,31,119.47. The court dismissed the appeal, holding that the rate was based on contract and followed the Supreme Court judgment in Central Bank of India vs. Ravindra.

What did the court decide?

The appeal was dismissed with the finding that no substantial question of law arose as the interest rate was based on the contract between the parties.

Ram Kishan Vs State Bank of India — Contract and Commercial Disputes | Punjab & Haryana HC (2010)

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RSA No.3115 of 2009(O & M)

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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

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RSA No.3115 of 2009(O & M) Date of Decision:26.10.2010

Ram Kishan

.... appellant

Versus

State Bank of India

.....respondent

CORAM: HON'BLE MR.JUSTICE RAKESH KUMAR GARG

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1.Whether Reporters of local papers may be allowed to see the judgement? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest?

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Present: Mr.C.B.Goel,Advocate for the appellant

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Mr.Atul Mahajan, Advocate for the respondent

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RAKESH KUMAR GARG J.(ORAL):

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This is defendant's second appeal challenging the judgment and decrees of the courts below, whereby suit of the respondent-Bank for recovery of a sum of ` 7,31,119.47 P along with interest at the rate of 16% per annum from the date of filing of the suit till realization, was decreed.

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At the time of motion hearing, learned counsel appearing on behalf of the appellant had confined his arguments only to the extent of rate of interest awarded by the courts below, submitting that the awarding of interest at the rate of 16% per annum, compounded quarterly, was excessive.

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It may also be noticed that during the pendency of this appeal, on the request of counsel for the parties, the case was adjourned to find out any possibility of settlement. However, no such settlement has been reached between the parties.

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RSA No.3115 of 2009(O & M)

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I have heard learned counsel for the parties.

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It is not disputed that the rate of interest is being charged by the plaintiff-respondent on the basis of a contract between the parties. The argument raised by learned counsel for the appellant is squarely covered against him by a judgment of the Hon'ble Supreme Court in Central Bank

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of India vs.Ravindra and Ors. AIR 2001 SC 3095.

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Thus, I find no merit in this appeal. No substantial question of law arises.

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Dismissed.

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(RAKESH KUMAR GARG) JUDGE

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26.10.2010

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neenu

Ram Kishan v. State Bank of India

Case brief

What is this about?

What did the court decide?

Ram Kishan v. State Bank of India

Case brief

What is this about?

What did the court decide?

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