MATTAPARTHI SATYANARAYANA Vs. PANCHAYAT SAMITHI P GANNAVARAM

JUDGEMENT

(1.) Heard Sri M.Giri representing Sri M.Sivananda Kumar, learned counsel representing the appellant and Ms.E.Kavitha, learned Assistant Government Pleader for Arbitration.

(2.) This Court on 26.9.2003 made the following order:

(3.) The only question, which had been argued in elaboration by both Sri Giri, the learned counsel representing the appellant and the learned Assistant Government Pleader for Arbitration is in relation to the quantum of interest, which had been granted by the Courts below. It is pointed out that in the light of the facts and circumstances while positively recording a finding relating to the liability of the defendants to pay the amount, granting 51/2% interest per annum from the date of suit till the date of realization cannot be sustained. However, the learned Assistant Government Pleader for Arbitration would point out that in the light of the nature of the transaction since the Court of first instance and also the appellate Court exercised the discretion properly, the same not to be disturbed by this Court.