SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
Listen Audio Icon Pause Audio Icon
judgment-img

1995 Supreme(P&H) 740

ASHOK BHAN
Dal Singh – Appellant
Versus
Punjab National Bank – Respondent


Judgment

Ashok Bhan, J.

1. Judgment-debtor-petitioner (hereinafter referred to as the judgment-debtor) along with four other judgment-debtors took a loan of Rs. 64,000/- from the respondent-Punjab National Bank, Sunam, decree holder (hereinafter referred to as the decree-holder) on 13.4.1981 for the purchase of a tractor. The loan was to be repaid in seven years in 14 half yearly instalments starting from December, 1981. Judgment-debtor paid certain amount by way of instalments but thereafter defaulted in the payment of the instalments.

2. Decree-holder-Bank filed a suit on 17.7.1986 for the recovery of Rs. 98,107.00, which was decreed by the Sub Judge, 1st Class, Sunam on 8.8.1988. Judgment-debtor was directed to make the payment of the amount due along with future interest at the rate of 14 1/2% per annum as had been agreed between the parties.

3. Decree holder-Bank filed an execution application in which objections were filed by the judgment-debtor. One of the objections taken was that the decree holder-Bank has been granted future interest at the rate of 14 1/2% per annum till realisation which was excessive and should not have been more than 6%. This objection was rejected by t









Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top