The petitioner-Bank filed this writ petition against the order dated 12.09.2003 passed in R.A.No.36 of 2003 made by the Debt Recovery Appellate Tribunal, (DRAT) Chennai, insofar as the order granting interest pendente lite in lump sum instead of at the rate agreed to by the respondents.

2. The respondents herein were sanctioned a term loan of Rs.600 lakhs, secured by an equitable mortgage by deposit of title deeds of the property consisting of 5th and 6th floors of the premises called “My Home Sarover Plaza” situated at Saifabad, Hyderabad, through the General Power of Attorney (GPA) holder Smt. V.Hemalata (mother of the first respondent). The respondents availed the said loan with an undertaking to repay with interest at Prime Lending Rate (PLR) of the petitioner-Bank + 2%, with quarterly rests in 72 monthly installments commencing from February, 2000. It was also agreed that the rate of interest might be revised by the Bank from time to time as per the directions of the Reserve Bank of India. An agreement dated 28.12.1999 was accordingly entered into, inter alia, with a stipulation in clause-5 of the said agreement that the petitioner-Bank would have a right to recall t