IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Date of Decision: January 19, 2026 M/s Oswal Worsted Spinners Limited ...Petitioner Versus M/s Indian Acrylics Limited ...Respondent CORAM: HON'BLE MRS. JUSTICE ARCHANA PURI Present: Mr.Aalok Jagga, Mr.Harkirat Singh Jagdev, Mr.Aryaman Jagga and Mr.A.P.S.Madaan, Advocates for the petitioner.

Mr.Akshay Bhan, Senior Advocate with Mr.H.V.Gupta, Advocate for the respondent.

****

ARCHANA PURI, J.

Challenge in the present revision petition is to the order dated

02.04.2009 passed by learned District Judge, thereby, allowing the application filed by the respondent under Section 151 read with Section 152 CPC, for correction of the judgment/decree dated 20.02.2002.

The facts germane, to be noticed, are as herein given:-

That, initially, respondent-M/s Indian Acrylics Limited (hereinafter called plaintiff) had filed a suit for recovery of Rs.14,20,922.68 against M/s Oswal Worsted Spinners Limited (hereinafter called defendant), on the averments that the defendant purchased acrylic fibres from the plaintiff from March 1993 to October 1993 of the value of Rs.1,30,73,118/- and made the payments thereof. After adjusting the same, a sum of Rs. 3,67,410.85/ is due, as a price of acrylic fibre. However, the defendant was to pay interest @ 2% per month, in the event of default of payment, beyond the period of 7 days and on this account, defendant is liable to pay Rs.10,53,511.83/-. The suit was contested by the defendant. Issues were framed.

Evidence was led and on appraisal of the evidence, it was held by the trial Court that the plaintiff is entitled to recover Rs.3,66,185.25, on account of supply of acrylic fibre and besides the same, the plaintiff is also entitled to charge interest @ 24% per annum, on delayed payment and thus, the plaintiff is entitled to recover Rs.10,53,511.83, as interest. Hence, the trial Court decreed the suit for the recovery of Rs.3,66,185.25, as price of the goods and further held the plaintiff entitled to interest @ 24% per annum, amounting to Rs.10,53,511.85, as on 19.08.1995, and further awarded interest @ 24% per annum, on the said amount from the date of institution of the suit till realization, vide judgment and decree dated 18.11.1998.

Being aggrieved, the defendant preferred Civil appeal No.125 of 18.12.1998, which was decided by learned District Judge, on 20.02.2002, whereby, the trial Court decree was modified to the effect that respondent company shall be entitled to interest @ 18% per annum, on the decretal amount of Rs.3,66,185.25 and shall also be entitled to future interest @ 18%

per annum, from the date of the institution, till realization.

Still not satisfied, both the plaintiff as well as the defendant, filed respective appeals i.e. RSA-3266-2002 and RSA-2374-2002 respectively. However, both the said appeals were dismissed by the Coordinate Bench vide order dated 31.08.2004.

During the pendency of the appeal before the First Appellate Court, the plaintiff had filed an execution petition claiming amounts, as per the judgment and decree of the trial Court, whereby objections were raised that the trial Court decree has been modified by the First Appellate Court and interest is payable only @ 18% per annum. However, the executing Court, on appraisal of the material before it, had concluded that the trial Court decree awarded a sum of Rs.10,53,511.85, as interest @ 24% per annum, as on 19.08.1995. Since the interest was reduced to @ 18% per annum by the First Appellate Court, therefore, this amount stood reduced by 1/4th and after calculation, the amount payable, was worked upon as Rs.7,90,134/- and after calculating the interest on the said amount and on the amount of Rs.3,66,185.85, learned Executing Court concluded that a sum of Rs.33,61,774.35 is payable by the defendant.

Being aggrieved by the aforesaid order, the defendant filed revision petition i.e. CR-1586-2006, which was decided on 04.09.2008, while making the observations, as herein given:-

“Be that a