GOPALAKRISHNA IYER Vs. PITCHA PILLAY

JUDGEMENT

(1.) This appeal arises in execution and relates to a question of interest under the Debt Relief Act. After the enactment of the Debt Relief Act a decree awarding nine per cent interest after the date of the Debt Relief Act was passed. In execution the debtor contended that anything more than four per cent could not be realised. This objection was allowed by the lower court and the decree holder has therefore brought the present appeal. Having regard to the mandatory provisions of S. 12 of the Debt Relief Act, the decree awarding more than four per cent interest must be held to be without jurisdiction and on that ground unenforceable. This matter is covered by the authority of the decision in Chacko v. Joseph, 18 TLT 581. Hence there is no substance in this appeal. It is dismissed with costs.