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2002 Supreme(Bom) 298

S.A.BOBDE
Islamic Investment Company – Appellant
Versus
Union of India & others – Respondent


JUDGMENT - S.A. BOBDE, J.:---This chamber summons is taken out by the respondents, the Food Corporation of India against whom an Award was passed by the arbitrator on 21st January, 1996. The Award was made into a Rule of the Court and a decree was passed in terms thereof on 8th March, 2000. Under the decree a total amount payable towards principal was Rs. 7,99,067.16. The total decretal amount along with interest on principal at the rate of 10% per annum from 7th February, 1989 to 8th March, 2000 including cost of Rs. 4,165.50 was in the sum of Rs. 16,39,45.66. The interest on the above principal sum of Rs. 7,99,067.16 for the period from 7th February, 1989 to 8th March, 2000 at the rate of 10% p.a. was Rs. 8,86,198/-. As per further interest on the above principal from 9th March, 2000 to 31st December, 2001 at the rate of 10% p.a. was in the sum of Rs. 1,45,145.62. Thus the total interest at the rate of 10% p.a. on the above principal from 7th February 1989 to 31st December, 2001 came to Rs. 10, 31,344/-.

2. The Food Corporation of India has an account with the State Bank of India. The decree holder M/s. Islamic Investment Company sought a garnishee order against the State Bank of


























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