CANARA BANK Vs. U RAMANATH BHAT

JUDGEMENT

(1.) THIS is a plaintiff's appeal arising from the judgment and decree dated December 6, 1993, passed by the 6th Additional City Civil Judge, Bangalore, in O. S. No. 3688 of 1990, for the recovery of a sum of Rs. 1,22,170. 18 together with interest at the rate of 24 per cent. per annum compounded quarterly from the defendant as he availed of Can-card facility given by the bank on October 27, 1988, and did not pay money within the time granted by the terms and conditions.

(2.) THE defendant did not put in his appearance and he absented, The suit proceeded ex parte.

(3.) AFTER considering the evidence on record produced before the court, the trial court decreed the plaintiffs suit for a sum of Rs. 1,22,170. 18. The trial court held that the court has got power to grant interest on a sum of Rs. 89,786. 94 at the rate of 12 per cent. per annum from July 3, 1990, till the date of payment.