R.C.CHAVAN
Neeta Bhalchandra Kalghatgi – Appellant
Versus
State Bank of India – Respondent
This appeal by the plaintiffs is directed against the decree of learned Civil Judge, Senior Division, Vasco-da-Gama refusing interest on the sum of Rs.11,55,433.42 which the learned Judge ordered the defendants to pay to the plaintiffs.
2. The facts, which are material for deciding this appeal are mostly not in dispute or cannot be disputed.
3. There was Special Civil Suit No.157/1982 between the brothers and daughters of Narhari Narvekar. The defendants in that suit, are the plaintiffs in the present suit. In that suit, a receiver was appointed. Initially, Advocate Shirsat was appointed as receiver. Thereafter, Advocate Surendra Dessai was appointed in his place and lastly, Shri Sandesh Naik was appointed as receiver. These receivers maintained a current account with the defendant State Bank of India in which a sum of Rs.11,55,453.42 was lying. The parties filed consent terms in the said suit and the suit was decreed in accordance with those consent terms. The plaintiffs in the present suit, who were the defendants in Special Civil Suit No.157/1982 were to get 58 % of the amount in deposit. Clause 3(c), 4 and 5 of the consent terms read as under:
“3(c) It is further cl
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