JUDGMENT

P. Sathasivam, J.

1. Leave granted.

2) These appeals are directed against the judgment and order dated 24.08.2007 passed by the High Court of Delhi at New Delhi in Writ Petition (C) No.6069 of 2007 wherein the Division Bench of the High Court disposed of the writ petition filed by M/s Allied Beverage Company Pvt. Ltd. (hereinafter referred to as "the Company") modifying the order dated 09.06.2005 passed by the Debts Recovery Tribunal-III, Delhi (hereinafter referred to as "the DRT") in Original Application No. 47 of 2003 preferred by the Punjab & Sind Bank (hereinafter referred to as "the Bank") to the extent by reducing the pendente lite and future interest w.e.f. 04.07.2003 to 14% p.a. with annual rests, which would be the simple interest, against the rate of interest @ 18% p.a. with monthly rests, awarded by the DRT, Delhi.

3) Brief facts: (a) Vide application dated 28.04.1997, the Company approached the Bank and requested for grant of financial facilities in its name. After verifying the documents submitted by the Company, the Bank acceded to the request and granted the Cash Credit (CC) (Hypothecation) limit to the tune of Rs. 60,00,000/-, Term Loan of Rs.20,00,000/-, F