SUBBAIAH K. R Vs. INDIAN BANK, MADURAI

JUDGEMENT

(1.) THE petitioners have handed over an amount of Rs. 16 lakhs by way of bank drafts to the respondent bank. According to this Court's order dated 16.4.2004 the decretal amount was to be deposited. According to the petitioner this amount is the principal amount of Rs. 11,95, 200/- (Rupees eleven lakhs ninety five thousand and two hundred only) with 18% interest on the amount upto the date of the decree and 6% interest on the principal amount.

(2.) THE bank drafts are accepted by the learned counsel appearing on behalf of the respondent without prejudice. The respondent is entitled to appropriate the same towards the decretal dues. The amount which has been handed over in this Court shall be adjusted first against the decretal amount and thereafter against interest. In view of the payment made, issue notice. Notice is accepted by Mr. Himanshu Munshi, learned counsel appearing for the respondent. Counter affidavit, if any, be filed within four weeks, Rejoinder affidavit may be filed within two weeks thereafter. Pending disposal of the matter by this Court the attachment will continue but no further steps to be taken for sale of the petitioners property. List the matter after six weeks.