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1 - 5 of 5 (0.38 seconds)Article 14 in Constitution of India [Constitution]
Industrial Credit And Development ... vs Smt. Smithaben H. Patel And Others on 10 February, 1999
9. So far as the payment made by Petitioner towards lease
premium and interest and adjustment thereof by Respondent No.1 is
concerned, Mr. Samdani relied upon the decision of the Apex Court in
Industrial Credit Development Syndicate v. Smithaben H. Patel [(1999)
3 SCC 80] to contend that Respondent No.1 was right in adjusting the
amount paid by the Petitioner firstly towards the penal interest, then
towards the interest and lastly towards the principle. Having gone
through said decision, we are unable to buy the submission of Mr.
Samdani. The Apex Court in this case was considering the question as
to how the adjustment is to be made by the decree-holder under
various heads comprising of principle, cost and interest. The Apex
Court held that the payment has to be adjusted strictly in accordance
with the direction of the Court, if any and in the absence of such
direction the adjustment has to be made subject to an agreement to
the contrary between the parties, firstly towards the interest and cost
and thereafter towards the principle amount. The Apex Court was
dealing with a situation about the adjustment of principle, cost and
interest in pursuance of the decree of civil Court. So far as the present
case is concerned, the liability of the parties has arisen in out of purely
contractual obligation to pay interest, penal interest and premium as
specified by clause 2(a) of the said supplementary lease deed. This
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Wpld-212/19.
Article 12 in Constitution of India [Constitution]
Article 19 in Constitution of India [Constitution]
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