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Central Bank Of India – Appellant
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Ravindra – Respondent
The provided legal document does not contain any specific mention or reference to a bank manager. It primarily discusses legal principles related to the interpretation of interest, capitalisation practices, and the meaning of the term "principal sum" in the context of banking and financial transactions. There is no direct reference or discussion regarding the role, duties, or position of a bank manager.
JUDGMENT
R.C. Lahoti. J.—What is the meaning to be assigned to the phrases "the principal sum adjudged" and "such principal sum" as occurring in Section 34 of the Code of Civil Procedure, 1908 [as amended by the Code of Civil Procedure (Amendent) Act (66 of 1956) w.e.f. 1.1.1957], a question of frequent recurrence and having far reaching implications in suits for recovery of money, specially those filed by banking institutions against their borrowers, has been referred by a three-Judges Bench of this court to the Constitution Bench.
2. It will be useful to reproduce the order of reference dated 7th May, 1996 [since reported as (1996) 5 SCC 279] so as to highlight the nature and scope of controversy arising for decision before the Constitution Bench:
‘‘Order
After hearing learned Attorney General and amicus curiae S/Shri A. Subba Rao Ranjit Kumar and K.M.K. Nair on (the interpretation of the provisions of Section 34 CPC on "the principal sum adjudged" the matter is required to be considered by a Constitution Bench. The learned Attorney General has drawn our attention to the judgments of this Court in Corpn. Bank v. D.S. Gowda and Bank of Baroda v. Jagannath Pigment & Chem. wherein he
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