ANDAVAR FINANCE P LTD Vs. S MANIKKASWAMI

JUDGEMENT

(1.) THIS appeal is filed by the plaintiff against the judgment and decree passed by the learned Subordinate Judge, Mayiladu-thurai in O.S. No. 46 of 1984 dated 1.8.1985. Respondents 1 to 3 herein were defendants 1, 2 and 4 in the suit and respondents 4 to 9 are the legal representatives of the third defendant. Though the Registrar of Chit Funds, Mayiladuthurai was the fifth defendant in the suit, since no relief has been claimed against him, he is not impleaded as a party in the appeal.

(2.) THE suit was filed for a decree directing defendants 1 to 4 to pay plaintiff personally the suit amount with a charge on the suit property for the suit amount together with subsequent interest and also for a direction that if the court deems fit, a sum of Rs. 35,000/- of the suit amount be paid to the fifth defendant, in default of which the plaintiff be at liberty to execute the decree for the realisation of the amount with subsequent interest and also for a direction that in default of the payment, the suit property be ordered to be sold and also for other consequential reliefs.

(3.) THE plaintiff is aggrieved by the findings of the trial Court that the plaintiff is not entitled to interest on Rs. 35,000/- and the scope of the appeal is confined to the question whether the plaintiff is entitled to interest on the sum of Rs. 35,000. THE appeal has been filed on the ground that the appellant sold the property to the first defendant on 31.3.1972 and possession was also handed over to the first defendant on the same day and hence, the first defendant is liable to pay interest at the reasonable rate on the unpaid purchase money in the hands of the purchasers. THE provisions of the Interest Act are also referred and according to the appellant, the denial of interest on the unpaid purchase money by the purchasers is not correct in law.