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1995 Supreme(MP) 586

T.S.DOABIA
PUNJAB AND SIND BANK – Appellant
Versus
NAGRATH INDUSTRIES PVT. LIMITED – Respondent


T. S. DOABIA, J.

( 1 ) THIS appeal has been preferred by Punjab and Sind Bank. The dispute lies in a very narrow compass. It is not necessary to go into detailed facts. The suit stands decreed. Interest has been fixed at the rate 171/2 %. The judgment-debtor had addressed a letter Ex. P/ 50 to the Bank on 9th Oct. 1978. It is the impact of this letter which is relevant for the purpose of this appeal. This reads as under:" As we are not able to clear your dues, we hereby handover to you complete factory premises situated at 13 Industrial Estate, Gwalior including Plant and Machinary and all other items lying there. You are at liberty to lock it, or dispose it, and the amount realised may be credited to our loan account. "

( 2 ) TAKING note of this, the trial Court concluded that even though the suit is being decreed but the Bank will not be entitled to interest on the amount representing value of the articles mentioned in Ex. P/50. In para 34 of the judgment it was concluded :" Accordingly, plaintiff- Bank gates a decree of Rs. 2,71,859-90 NP with future interest @ 171/2% per annum from the date of institution of the suit i. e. 4-3-1980, but out of this decrial amount, the list Ex. P/










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