Drat Delhi Court March 2002 Judgments

State Bank of India Vs. Jagdamba Medicos and ors.

Court: DRAT Delhi

Reported in: I(2003)BC53

1. This appeal against order dated 1.8.2000 passed by Mr. S.N.P. Dave, Presiding Officer, Debts Recovery Tribunal, Jaipur in O.A. No. 4/2000, State Bank of India v. Jagdamba Medicos and Ors. has been filed by State Bank of India, which had filed the O.A.2. The claim of the State Bank of India for a sum of Rs. 14.54.325/- along with costs and future interest @ 6% per annum from the date of institution of recovery proceedings, i.e. 13.12.1999 till relization from all the defendants jointly and severally has been decreed. It has further been directed that the Bank would also be entitled to recover this amount from the safe of hypothecated goods and mortgaged properties of the defendant Nos. 2 and 3.3. The challenge in this appeal is only on the point of award of lesser rate of pendente lite and future interest. The Bank in this appeal has claimed pendente lite and future interest @ 16.32% with quarterly rests from the date of filing the suit till the date of realization, on the basis of ...