( 1 ) THE appellant is the plaintiff. He filed the suit for recovery of certain amounts said to be due from the respondent-defendant. The trial Court decreed the suit. In so far as the principal amount is concerned, I am not concerned in this appeal. The appellant claimed interest on the basis of trade, custom and usage at the rate of 18% per annum on the amounts outstanding. The trial Court decreed the suit with interest at the rate of 12% per annum. Dissatisfied with the difference of the rate of interest at 6% the present appeal is filed.

( 2 ) IT is contended for the appellant that having held that there is trade custom and usage the trial Court ought to have granted interest as prayed for. It is contended that the liability was incurred in connection with the business dealings. Therefore under proviso to S. 34 of the Code of Civil Procedure the appellant is entitled to rate of interest charged by the Nationalised Banks on the money lent on commercial transactions. The rate of interest chargeable by the nationalised Banks is 18%. Therefore the appellant is entitled to 18% as claimed. A party is entitled to interest as agreed to between the parties to the contract. In its absence the Court is given power to order interest from the date of the suit till the date of decree at such rate as it deems reasonable to be paid on the principal sum adjudged in addition to any interest adjudged on such principal sum for any period prior to the institution of the suit. The Court is also empowered to order further interest at such rate not exceeding 6% per annum from the date of the decree to the date of payment or to such earlier date as it thinks fit. The Legislature amended this provision and introduced proviso to S. 34 through the Civil Procedure Code (Amending) Act (104 of 1976 ). The proviso reads thus :"provided that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed six per cent per annum, but shall not exceed the contractual rate of interest or where there is no contractual rate, the rate at which monies are lent or advanced by nationalised Banks in relation to commercial transactions. "it postulates that where liability in relation to the sum adjudged by the Court arose out of commercial transaction, then the Court is given power to order interest exceeding 6% per annum where there is no contractual rate, the rate at which the Nationalised Banks lent or advanced monies in relation to commercial transactions. Explanation II to the proviso says that the money adjudged could be construed to be commercial transaction when the liability is incurred in connection with the industry, trade or business of a party. Admittedly this is a case where the liability was incurred by the respondent in connection with the business transaction. But the question is, what is the rate of interest to which the Nationalised Banks charge on monies lent or advanced in relation to the commercial transactions.

( 3 ) THE Interest Act (14 of 1978) also gives power to the Court in certain circumstances to charge interest on debts or damages in any proceedings in which a claim for interest in respect of any debt or damages already paid is made. S. 3 thereof empowers the Court to allow interest. Subsection (1) of S. 3 adumbrates that in any proceedings for the recovery of any debt or damages or in any proceedings in which a claim for interest in respect of any debt or damages already paid is made, the Court may, if it thinks fit, allow interest to the person entitled to the debt or damages or to the person making such claim, as the case may be "at a rate not exceeding the current rate of interest," for the whole or part for a period specified in clauses (a) and (b) thereunder. S. (2) (b) defines "current rate of interest to mean the highest of the maximum rates at which interest may be paid to the different classes of deposits (other than those maintaine