TOSH AND SONS INDIA LTD Vs. KHANNA

JUDGEMENT

(1.) THE petitioner filed an execution petition in respect of a decree passed by the Subordinate Judge, Kochi in O.S. No.90/93. THE decree was for the principal amount of Rs.22,89,900/- along with interest at the rate of 18 per cent per annum from the date of institution of suit till date of realisation. THE Judgment debtor filed an appeal against the decree before the High Court of Kerala and interim orders were granted in favour of the judgment debtor subject to deposit of the amount of Rs.5 lakh before this court. It may be noticed at this stage that the judgment debtor had obtained transfer of the decree for enforcement to this court. This amount of Rs. 5 lakh was released in favour of the decree holder on 15.04.1996.

(2.) THE appeal of the judgment debtor was partly allowed in terms of the judgment in appeal dated 1.11.2000 and the decree was modified. THE decree holder was held entitled to a sum of Rs.9,24,666/- instead of Rs.22,89,900/-. THE decree holder was granted interest at the rate of 18 per cent per annum from the date of institution of suit till date of realisation as granted by the Trial Court. A further direction was passed that the amount of Rs.5 lakh paid during the pendency of the appeal be adjusted while recovering the balance amount.

(3.) THE application was considered on 7.11.2001 by this court and in the presence of both the counsels for the decree holder and judgment debtor, the EA was disposed of in terms of the prayer made by the judgment debtor. THE execution petition was re-notified for payment of the amount in terms thereof.