JUDGMENT :

(Prayer: Review Application preferred under Order 47, Rule 1 of the Civil Procedure Code, against the judgment of this Court passed in A.S.No.533 of 2018 dated 19.02.2020.)

The present Review Application is filed to review the judgment passed by this Court in A.S.No.533 of 2018 dated 19.02.2020.

2. The learned counsel for the review petitioner mainly contended that the error apparent in the order passed by this Court is regarding the interest directed to be paid at the rate of 12% per annum over the principal amount of Rs.10,00,000/-. It is contended that as per Section 34(1) of the Code of Civil Procedure, the interest which could be awarded should not exceed 6% per annum in the suit for recovery of money other than commercial transactions.

3. However, the learned counsel for the respondent relied on the proviso by stating that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed six per cent per annum.

4. The learned counsel for the respondent states that it is the commercial suit. However, the petitioner contends that it is not commercial suit. But this Court cannot adjudicate these merits in review proceedings. Only if an error apparent is established, then the order needs to be reviewed, but not otherwise.

5. The interest in a non-commercial suit would be not more than 6% per annum. This being the prescription contemplated under Section 34(1) of the Code of Civil Procedure, this Court is inclined to review the order to the extent of modifying the interest amount to be paid by the review petitioner.

6. Thus, the order stands reviewed to the extent stated hereunder:-

“Accordingly, the appellant/defendant is directed to pay the plaint amount of Rs.10,87,500/- (Rupees Ten Lakhs Eighty Seven Thousand and Five Hundred only) and pay interest for the principal amount of Rs.10,00,000/- (Rupees Ten Lakhs only at the rate of 6% per annum from the date of plaint till the date of realisation.”

7. The respective learned counsel for the review petitioner and the learned counsel for the respondent made a submission that the parties have agreed to settle the decree amount in four equal instalments commencing from 10th November, 2021 and ending with 10th February, 2022. Thus, the review petitioner/appellant is directed to settle the decree amount with interest in four equal instalments and the final instalment is to be paid on or before 10.02.2022.

8. Accordingly, the Review Petition stands allowed in part to the extent stated above. However, there shall be no order as to costs.