BANK OF INDIA Vs. LALDHAR TIWARI

JUDGEMENT

(1.) -This appeal is directed against the Judgment and Decree passed by a learned Judge of this Court on 27th March, 1995 in Commercial Suit No. 748 of 1988, whereby the learned Judge had decreed the suit in part. The prayer for grant of interest during the pendency of the suit and future interest was however refused.

(2.) On or about September 8, 1988, Bank of India (hereinafter to as "the Bank") instituted the suit, inter alia, claiming for a decree for Rs. 1,62,341.74 against the defendants/respondents and for further interest from 1st September, 1988 including interim interest and interest on judgment at the agreed rate of 12.5 per cent per annum with quarterly rest till realisation from the defendants/respondents jointly and severally and for other incidental reliefs.

(3.) At the request of one Bala Kanta Dubey, since deceased, in the month of March, 1983, the Bank granted a Term Loan for Rs. 1,90,000/- to him for acquiring and purchase of a new Tata Truck chasis with all its accessories against securities inter alia of hypothecation and charge of the said vehicle.