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1999 Supreme(Mad) 538

P.SATHASIVAM
Madurai City Co-operative Housing Society Limited, No. A-2582, represented by its Secretary T. R. Sathyamoorthy – Appellant
Versus
Special Tribunal for Co-operative Cases, Madurai and others – Respondent


Advocates:
Mr.V.K. Vijayaraghavan for Mr. S. Byravan, Advocate for Petitioner. Mr. M. Chinnasamy, Advocate for Respondents No. 3 and 4.

Judgment :

1. Aggrieved by the award of the Special Tribunal for Co- operative Cases, Madurai, in

C.S. No. 171 of 1989 in so far as it relates to the rate of interest awarded in the judgment and decree at 6 per cent per annum from the date of decree, Madurai City Cooperative Housing Society Limited has filed the present writ petition for quashing the said decree and for direction to the respondents 2 to 4 to pay interest at the rate of 16 per cent per annum on the amount decreed till the date of realisation.

2. The brief facts leading to the filing of the writ petition are stated hereunder: Respondents 2 to 4 herein had executed a mortgage deed of their house in favour of the petitioner on 6. 84 for a sum of Rs. 60, 000 and received only Rs. 42, 000 on several dateS agreeing to repay the said sum together with interest at 14 1/2 per cent per annum. The respondents 2 to 4 had to pay the principal amount of Rs. 42, 000 together with interest of Rs. 14, 285.54 as on 187. Since they failed to pay the amount inspite of repeated demands, proceedings were initiated before the Cooperative Sub Registrar, Madurai in A.R.C. No. 305/86-87 for recovery of the total sum of Rs. 56, 285.54 as










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