SATISH CHANDRA GUPTA Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This appeal is by the borrower against the decree dated 12.11.87, granted in favour of the State Bank of India (respondent No. 1) in a sum of Rs. 1,47,024.39 p. with interest at the rate of 12.5% per annum from the date of decree to the date of payment.

(2.) The learned counsel appearing for the borrower only raises three questions regarding rate of interest, compound interest and rate of post-decree interest.

(3.) On the first question about rate of interest, the contention advanced is that under the loan document the agreed rate of interest was 11%, and therefore, the Court committed an error in permitting the Bank to charge interest at the rate of 12.5%.