BIMAL CHANDRA BASAK, SATYABRATA MITRA
L. I. C. OF INDIA – Appellant
Versus
KUMAR PURNENDU NATH – Respondent
( 1 ) THIS appeal is directed against an order and preliminary decree passed in a mortgage suit filed by the plaintiff appellant herein. The only grievance of the appellant is that the learned Judge has not granted any interest from the date of filing of the suit. It is submitted that so far as the question of interest between the date of the institution of the suit and the date of the decree is concerned, the learned Judge has to grant interest. He has only the discretion so far as the rate of interest is concerned. In this context reliance is placed on a Division Bench decision of this Court in the case of West Bengal Financial Corpn. v. Bertram Scott (I) Ltd. (in liquidation) reported in AIR 1983 Cal 381 which has been followed in another Division Bench decision of this Court in the case of State Bank of India v. B. Gupta (Tea) Pvt. Ltd. reported in AIR 1987 Cal 64. So far as the rate is concerned it is submitted that the contractual rate was 7% and it should be granted at that rate.
( 2 ) IN our opinion so far as the interim interest is concerned the learned Judge should have allowed such interest and there was no question of any discretion in the matt
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