A. Ramalingeswara Rao, J.

1. This Writ Petition was filed by the Charminar Co-operative Urban Bank Limited challenging the order of the Andhra Pradesh Co-operative Tribunal, Hyderabad in C.T.A. No. 239 of 2003 dated 14.07.2004 to the extent of reducing the rate of future interest from 21% p.a., to 6% p.a. The facts leading to the said order are as follows: The first respondent obtained a loan of Rs. 25,00,000/- on 08.01.1999 from the petitioner Bank and as security to the said loan, an extent of 300 sq. yards of land together with building having 2880 sq. feet of plinth area, situated in Plot No. 60, Survey No. 160, Tirumulgherry, Secunderabad was mortgaged. Respondents 3 to 5 stood as guarantors in their personal capacity. Since the first respondent did not repay the debt, arbitration proceedings were initiated before the Deputy Registrar/Arbitrator, Hyderabad in A.R.C. No. 81 of 2000 and an award was passed on 06.05.2000 directing the first respondent to pay the amount of Rs. 27,24,810/- together with interest at 21% p.a., as on 01.10.1999. Challenging the said award, the first respondent filed C.T.A(SR) No. 6370 of 2001 before the Andhra Pradesh Cooperative Tribunal, Hyder