Judgment

Shiva Kirti Singh, J.

1. The simple grievance of the appellant is that by impugned judgment and order dated 12.04.2005 passed by a Hon’ble Judge presiding over the Special Court (Trial of Offences Relating to Transactions in Securities) at Bombay has erred in determining an excessive amount payable by the appellant Citibank to the respondent applicant – Canbank Financial Services Limited (hereinafter referred to as ‘Canfina’) by way of restitution.

2. There is no dispute that on account of reversal of a money decree in favour of Citibank in Suit No. 1 of 1995 filed by it against Canfina, by a common order dated 7.7.2004 passed by this Court in Civil Appeal nos. 7426, 9063 and 9138 of 1996, the Citibank is required to restore back the monetary benefits it received under the decree against Canfina. The operative part of the said decree dated 22/23/26.04.1996 in Suit no. 1 of 1995 is as follows:

“121. xxxx Accordingly, the defendants are directed to deliver to the plaintiffs, 9% IRFC Bonds of the face value of Rs. 50 crore within a period of 16 weeks xxx”

“122. the question then arises as to the interest the defendants must therefore pay to the plaintiffs, the interest @ 9% on the