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2011(3) Crimes 683(1) (Guj.)
SHORT NOTE
GUJARAT HIGH COURT
Jayant Patel and Smt. Abailasha
Kumari, JJ.
Union Bank of India —Appellant
versus
Manakchowk and Ahmedabad Manufacturing Co. Ltd. and Ors. —Defendants
First Appeal Nos. 5144 to 5149 of 1995
Decided on 9.7.2010
Counsel for the Parties:
For the Appellant:Prakash K Jani, Advocate.
For the Defendants:P.P. Banaji and Ramesh K Shah, Advocates.
For the Appellant:Prakash K Jani, Advocate.
For the Defendants:P.P. Banaji and Ramesh K Shah, Advocates.
IMPORTANT POINT
When instrument is silent as to rate of interest, plaintiff is entitled to interest as provided in Statute.
Headnote:Negotiable Instruments Act, 1881—Section 80—Interest—Claim for 14% interest as against 6% awarded by Trial Court—In absence of any admission by defendants concerned on the aspect of quantum of interest @ 14% per annum if Judge has examined evidentiary value of documents of instrument and communication thereafter between parties, same cannot be said as erroneous—Instruments in question were prior to 30th December, 1988—Amendment of 1988 with have no applicability—Trial Judge rightly awarded interest @ 6% p.a. as provided in Section 80—Appeal dismissed. (Paras 7, 11 to 14)
Union Bank of India VS Manakchowk and Ahmedabad Manufacturing
