Search Results Page

Search Results

1 - 7 of 7 (1.14 seconds)
Union Of India, Rep., By Its ... vs M/S. Arvind Constructions (P) Limited, ... on 8 August, 2014 cites

Oriental Insurance Company Ltd. vs Smt. V. Kala Bharathi And Ors. on 29 July, 2005

Another point urged by the petitioners was that the amount paid by them, that too under the relevant orders passed by the High Court must be adjusted towards the principal amount. They sought to rely upon the judgment of this Court in Oriental Insurance Company Ltd., v. Smt. V. Kala Bharathi . Incidentally, the said judgment was rendered by me. After taking into account the precedents on the subject and the amendments caused to CPC, particularly, to sub-rules (4) and (5) of Rule 1 of Order XXI and sub- section (3) of Section 3 of the Interest Act, 1978, it was held that any partial payment made to the credit of an E.P., must be adjusted towards the principal, and the balance, towards interest.
Andhra HC (Pre-Telangana) Cites 33 - Cited by 4 - L N Reddy - Full Document

Central Bank Of India vs Ravindra And Ors on 18 October, 2001

Where a suit is filed for recovery of a specified amount with interest and the suit is decreed, the interest from the date of filing of the suit till the date of decree merges with the principal amount and what becomes recoverable is the decretal amount. That in turn will earn interest, at the rate stipulated by the Court itself. For instance, if a suit is filed for recovery of a sum of Rs.1,00,000/- with interest at 12% per annum and the suit has prayed for is decreed after two years, the decretal amount comes to Rs.1,24,000/-. If interest on the decretal amount is awarded at the rate of 9% per annum, such interest is to be calculated on Rs.1,24,000/-. In the instant case, the petitioners stated that the decree passed by this Court in O.P No. 3 of 2001 did not bring about any qualitative change and what is executable in effect, is the award as such. On that premise, it is pleaded that the principal amount is Rs. 4,24,24,342/-, where as the interest at 18% is to be calculated up to the date of decree in O.P No.3 of 2001 and at 12% per annum thereafter. The respondent, on the other hand, pleaded that the interest up to the date of decree in O.P No.3 of 2001 gets capitalized and merges with the principal and a compound figure comes to be treated as principal. They tried to draw support from the judgment of the Supreme Court in Central Bank of Indias case (1 supra). The record discloses that the executing Court proceeded on the same basis and treated the compound figure of principal of Rs. 4,24,24,342/-, and interest at 18%, worked up to the date of decree in O.P No. 3 of 2001; as the principal amount.
Supreme Court of India Cites 38 - Cited by 973 - Full Document
1