VARUPULA NARAYANA RAO Vs. MUDRAGADA GOVINDA RAO

JUDGEMENT

(1.) THE plaintiff in O. S. No. 31 of 1985 on the file of the learned Subordinate Judge, Eluru, aggrieved by the granting of rate of interest @ 12% instead of granting 24%, the contractual rate, had preferred the present appeal.

(2.) THE short question which arises for consideration in this appeal is: whether in the facts and circumstances the granting of 12% from 13-08-1983 till the date of filling of the suit instead of granting 24% on the suit amount can be said to be just and proper in the light of Section 34 CPC?

(3.) SRI Sanjay Kumar, learned counsel representing the appellant, had drawn the attention of this Court to Section 34 CPC and also placed reliance in State Bank Of India V. B. Gupta (Tea) P. Ltd. , and others (AIR 1987 Calcutta 64); Yaralagadda Satya Rao and another v. Goli Ganiraju @ Sathiraju (2004 ALD (NOC)53) the judgment in S. A. No. 1074 of 1998, dated 17-07-2003 in Yarlagadda Satya Rao's case. The appellant herein filed the suit for recovery of Rs. 35,660/-, including Rs. 10/- being the registered notice charges, being the principal and interest due on a promissory note, dated 13-08-1983, executed by the defendant in favour of the appellant-plaintiff for Rs. 25,000/- and in spite of repeated demands, the amount was not paid. Hence, the suit was filed. Written statement was filed and issues were settled. P. Ws. 1 and 2 and D. Ws. 1 to 3 were examined. Exs. A. 1 to A. 7 and Ex. X. 1 were marked. The trial Court on appreciation of evidence decreed the suit with costs together with interest @ 12% p. a. from 13-08-1983 till the date of filing of the suit i. e. , 16-04-1985 @ 6% p. a. from the date of the suit till the date of realization of the decretal amount.