STATE BANK OF INDIA Vs. S H ASSOCIATES

JUDGEMENT

(1.) This appeal is directed against the judgment and decree dated 30.09.1994 passed by the IV Additional Judge, City Civil Court, Hyderabad in O.S. No. 292 of 1990.

(2.) The State Bank of India, Bazarghat Branch, Hyderabad is the Appellant. The bank instituted the suit for recovery of an amount of Rs. 3,03,098.76 ps. together with interest @ 14% per annum with quarterly rests and for a preliminary decree against the 3rd Defendant for plaint mortgaged property and costs.

(3.) While the suit was pending trial, the Respondents/Defendants paid major portion of the loan amount of Rs. 2,70,000/- out of the suit amount leaving balance of Rs. 33,098.76 ps. The learned trial Court considering the fact that major part of the loan amount had been paid by the Respondents during the pendency of the suit, passed a preliminary decree for an amount of Rs. 33,098.76 ps. with proportionate costs granting interest @ 6% per annum simple on Rs. 33,098.76 ps. from the date of the suit till the date of realization.