K.S.RAJAGOPAL Vs. P.G.PRASANTH

JUDGEMENT

(1.) THE R.F.A. is filed by the defendant in the suit and the plaintiffs are the respondents. The O.P.(C) is filed challenging Ext.P3, ordering warrant of arrest against the petitioner. At the time of admission, a conditional order was passed by this Court that the petitioner will pay a sum of 50,000/ - within a period of one week from 2.8.2012. It is submitted by the learned counsel for the petitioner that the said condition was complied with.

(2.) AFTER hearing the learned counsel on both the sides, we find that the only issue to be resolved by this Court, is with regard to the amount decreed as well as the interest awarded at 12% per annum on the principal amount. The principal amount was only 2,50,000/ - which was received by the defendant as advance on 22.10.2003. The court below decreed the suit by granting future interest at 12% per annum on the principal amount from the date of suit. The total decree amount has been quantified as 3,40,000/ -.

(3.) WITH regard to the future interest also it is submitted that as it was not a commercial transaction award of interest at 12% per annum is not justifiable. The learned counsel for the respondents Sri.Hanil Kumar, in his arguments, supported the decree that is granted by the court below.