M/S HANSA ELECTRICALS Vs. D.N.WADHWA

JUDGEMENT

(1.) THE appeal impugns the judgment and decree (dated 30th November, 2004 of the Court of the Additional District Judge (ADJ), Delhi in Suit No.194/2003 filed by the deceased respondent/plaintiff) for recovery of Rs.8,40,000/ - jointly and severally from the three appellants/defendants together with costs and interest pendente lite and future @ 10% per annum.

(2.) NOTICE of the appeal was issued and subject to the appellants/defendants depositing the entire decretal amount in this Court, execution was stayed. In compliance therewith, a sum of Rs.8,40,000/ - only was deposited and no amount of interest pendente lite and till the date of deposit, also decreed was deposited by the appellants/defendants. However, no objection in this regard was taken by the deceased respondent. The amount deposited was ordered to be kept in a Fixed Deposit Receipt (FDR). The appeal was on 2nd March, 2006 admitted for hearing and the earlier interim order made absolute.

(3.) THE counsel for the appellants/defendants has contended that out of the decretal amount of Rs.8,40,000/ -, Rs.5,25,000/ - was the principal amount and the balance was the interest @ 24% per annum till the date of institution of the suit. He further contended that the principal amount of Rs.5,25,000/ - also comprises of two components i.e. Rs.4,40,000/ -, the decree for recovery of which is challenged and the sum of Rs.85,000/ -, the decree for recovery of which part is now not challenged by the appellants/defendants. He further contended that the appellants/defendants however challenge the grant of pre -institution interest @ 24% per annum on the said sum of Rs.85,000/ - as well.