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

13. I find merit in the submissions advanced by Mr. Godbole. The Supreme Court in Central Bank of India (supra) was considering whether interest capitalized upon periodical rests assumes the character of principal. Although the opening portion of the judgment is in the context of Section 34 of the CPC, the discussion on the capitalization of interest is founded on first principles and is provision-neutral. It therefore applies to all provisions where the expression "principal" is employed, including those contained in Order XXXIV.
Supreme Court of India Cites 38 - Cited by 973 - Full Document
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