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2023 Supreme(Ori) 127

ARINDAM SINHA
Allahabad Bank (Now Indian Bank), Chief Manager Nayapalli Branch – Appellant
Versus
Surya Sponge Iron Ltd. – Respondent


Advocates appeared:
Sitansu Ku. Dey, Advocate, Santanu Ku. Sarangi, Advocate, Mark Wright, Advocate, S.D. Ray, Advocate

JUDGMENT

Arindam Sinha, J. - Mr. Dey, learned advocate appears on behalf of review applicant (bank). He submits, the bank seeks modification of direction in paragraph-4 of order dated 9th February, 2022, disposing of the writ petition, to extent of the direction regarding 'accrued interest'. He submits, the money was kept in a 'no lien' closed account. Such an account is akin to current account and does not bear interest.

2. On query from Court he submits, there was direction upon writ petitioner by order dated 12th March, 2013 made in WP(C) no.2797 of 2013 (writ petitioners' own case). Instead of depositing the amount directed, petitioners deposited only Rs.1.15 crores with instructions for it to be kept it a 'no lien' account. It was accordingly kept. By said order dated 9th February, 2022, made in writ petitioners' subsequent writ petition, there was direction to release the money to it along with 'accrued interest'. There was no accrual of interest and therefore, prayer for review.

3. Mr. Dey draws attention to information disclosed in the application regarding current accounts, by annexure-X/1. Under entry 4.4.1 it has been clearly stated that no interest is paid on current accou

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