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1 - 5 of 5 (0.62 seconds)The Code of Civil Procedure, 1908
Section 34 in The Code of Civil Procedure, 1908 [Entire Act]
The Interest Act, 1978
Central Bank Of India vs Ravindra And Ors on 18 October, 2001
37. As regards the rate of interest claimed by the Plaintiff at the
rate of 24 per cent is concerned, I am of the considered opinion
that as per the Judgment of Hon'ble Supreme Court in Central
Bank of India Vs. Ravindra AIR 2001, Supreme Court 3095, the
grant of pendente-lite and future interest is a subject matter of the
discretion of the Court and not to be governed by the agreement
between the parties. Accordingly in exercise of the discretionary
power of this Court, I have granted pendente-lite and future
interest at the rate of 6% p.a. to the Plaintiff because Section 34 of
CPC, 1908 as well as the provisions of the Interest Act, 1978,
contemplate grant of interest at the rate of 6% per annum and
because in the past decade, the nationalized banks have also
granted interest at the rate of 5-6% per annum, on terms deposits.
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