Arun Kumar, CJ.-This batch of cases has been placed before us in view of a reference order made by the

learned single Judge. The following issue was referred to a larger Bench: “Whether the decision in S. B. Civil First Appeal No, 40 of 1998, Central Bank of India vs. Aman Travels & Ors., decided on August 9, 1988 correctly decides the question of payment of interest under Section 34 of the Code of Civil Procedure?”

2. When this matter had earlier been placed before this Court orders had been passed for issuance of notice to the High Court Bar Association, Jodhpur for assisting the Court in deciding the issue. However, at the time of hearing none has appeared for the High Court Bar Association or from the side of the respondents.

3. We have heard learned Counsel. The issue involved is of a purely legal nature and, therefore, individual facts of the cases are not material. The basic facts necessary for purposes of appreciating the controversy which are common in all the cases are that the appellants had filed suits for recovery of money against the respondents. The suits were filed by appellants on account of failure of the defendants/borrowers to repay the loans granted by