ITTAN MADHAVAN Vs. OUSEPH JOSEPH

JUDGEMENT

(1.) THE judgment debtor whose application filed before the execution court under S. 4 and 5 of Act 31 of 1958, as amended by Act 2 of 1951, was dismissed by the appellate court, is the revision petitioner.

(2.) THE decree in execution was passed on 17 31960 subsequent to Act 31 of 1958 but before it was amended by Act 2 of 1961. . THE decree awarded interest at the contract rate, which is more than 5 per cent per annum, from the date of the transaction till 14 71953, the date on which Act 31 of 1958 came into force. After the pissing of the Amendment Act 2 of 1961, the judgment debtor filed an application in the execution court under S. 4 and 5 of act 31 of 1958 as amended, and prayed that interest should be calculated at the rate of 5 per cent only on the principal amount from the date of the transaction. Though this prayer was granted by the learned Munsiff, the order was set aside by the learned Additional District Judge of Kottayam in appeal.

(3.) S. 4 (1) and (1) & S. 5 (1) (a) of Act 31 of 1958, which are alone relevant for the purpose of the revision petition before us, are extracted below: (Sections omitted) x x x x x x x x