SOUTH INDIAN BANK LIMITED MANGALORE Vs. MANJAYYA SHETTY

JUDGEMENT

(1.) THIS appeal is directed against the judgment and decree dated 31-7-1996 in o. s. No. 116 of 1993 on the file of the principal civil judge, mangalore, whereby the learned judge while decreeing the suit had granted interest at the reduced rate of 6% p. a. as against the contractual rate of interest at the rate of 17. 25% p. a. plus 2% p. a. as penal interest in the event of default.

(2.) THE matter had come up for admission on 13-11-1996 and the respondent 1 having entered caveat is also represented by his counsel. The subject-matter in the instant appeal is limited to the grant of interest from the date of the suit till the date of realisation of the decretal amount. By consent of parties, I have taken up the matter for final disposal. Accordingly, I heard the counsel of the respective side.

(3.) HAVING heard both sides, the matter was reserved for judgment. But at that stage, it was found out that defendant 2 was not served with notice, and therefore, the matter could not be finally disposed of by this court. Thereafter, the matter was posted before the court for being spoken to on 20-11-1996. On that day, the learned counsel appearing for respondent 1 had undertaken to file power of attorney for the respondent 2 also. However, when the matter had come up before the court again on 29-11-1996, it was submitted to the court that respondent 2 since died, his l. rs. To be either brought on record or impleaded. Thereafter, the matter was posted before the court on 11-12-1996 for admission. On that day, an la. Was filed under order 1, Rule 10 read with Section 151 of Code of Civil Procedure was before the court on the ground that respondent 2 died on 3-12-1995 during the pendency of the suit and that his l. rs. Respondents 2 (a) to 2 (c) be impleaded. The said application had since been allowed and the l. rs. Of the deceased respondent 2 had since been impleaded.