SELVARAJ Vs. FEDERAL BANK LTD

JUDGEMENT

(1.) This appeal comes up with an application seeking condonation of delay of 2058 days in filing it. We looked into the merits of the appeal also to decide on the issuance of notice on the application to condone the delay. We wanted to examine whether the appellants could appeal against a decree, which is one passed on consent of parties.

(2.) We heard Adv. Joby Cyriac on behalf of the appellants. We also took the assistance of Sri. S. Nikhil Sankar to find out the legal provisions in the Code of Civil Procedure, which applies to the situation.

(3.) Learned counsel for the appellants pointed out that even going by the plaint averments the lending by the Bank was only for a housing purpose and is one which, therefore, would not amount to a commercial transaction in terms of Explanation II under S.34 (1) CPC. He, accordingly, pointed out that post decree interest ought to have been levied only at 6% and grant of a decree beyond that was impermissible.