KARNATAKA HIGH COURT
*K. A. Swami, Srinivasa Reddy, JJ.
Indo-American Hybrid Seeds and Others v. India Tourism Development Corpn. Ltd. and Others
1. This appeal by the plaintiff is preferred against the judgment and decree dated 21-03-1986 passed by the learned VII Addl. City Civil Judge, Bangalore in O.S. No. 1222/1985.
2. The appeal is confined to disallowance of interest by the trial Court as claimed by the plaintiff. The plaintiff claimed interest on a sum of Rs. 1,35,644.50 at the rate of 18% per annum. On a sum of Rs. 566.50, it claimed interest at that rate from 23rd October, 1982 and on the remaining sum of Rs. 1,35,078/- it claimed interest at 16% from 2nd November, 1982. The trial Court has disallowed the interest on the ground that there was no agreement for payment of interest on the suit transactions.
3. In this appeal, the plaintiff - appellant has claimed a sum of Rs. 19,684,60 as interest on the aforesaid sum of Rs. 1,35,644.50, at the rate of 18% per annum.
4. Therefore, the only point that arises for consideration is whether the trial Court is justified in law in disallowing interest as claimed by the plaintiff in its entirety?
5. No doubt, interest for the period prior to filing of the suit can be claimed and awarded if there is an agreement between the parties or the plaintiff proves the mercantile usage
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