ALOK KUMAR GUPTA Vs. NARAIN JEWELLERS

JUDGEMENT

(1.) THIS is a plaintiff's appeal arising out of a suit for recovery of money which the Court below has decreed in her favour for a sum of Rs. 4 lacs with interest pendente lite and till realization @ 6% per annum. Ms. Gupta, counsel appearing for the appellant submitted that while the suit has been decreed in toto, the appellant's grievance in the present appeal is limited to the rate of interest awarded by the trial Court. She urged that the trial Court had fallen in error in awarding interest only @ 6% per annum on the suit amount ignoring the fact that the plaintiff-appellant was entitled to a higher rate since the claim arose out of a commercial transaction between the parties. We regret our inability to accept that submission. The trial Court has, in our opinion, correctly come to the conclusion that the nature of the transaction between the parties was not of a commercial nature. That being so, Section 34 of the Code of Civil Procedure limited the rate of interest that could be awarded to the appellant to 6% per annum only. That apart, the rate of interest is a matter of discretion for the Court and so long as the discretion has not been exercised unreasonably an Appellate Court may not be justified in making any alteration in the same.

(2.) IN the circumstances, therefore, we see no reason to interfere. This appeal which fails and is hereby dismissed but in the circumstances without any order as to costs.