VYSYARAJU VADREENARAYANA MOORTY RAJU Vs. EPARI VENUGOPALAM

JUDGEMENT

(1.) This Letters Patent appeal is directed against the reversing appellate decision of our learned brother Acharya, J. and arises out of an execution proceeding.

(2.) The decree-holder-appellant filed Money Suit No. 3 of 1963 for recovery of a sum of Rs. 47,080.56 out of which Rs. 29,164.52 was the principal and the balance of Rs. 17,916.04 was interest up to the date of the suit. On 22-9-1965, the suit was decreed for the entire amount claimed together with pendente lite and future interest at 6 per cent per annum. Costs of Rs. 5,325.62 were decreed and the judgment-debtor was allowed to satisfy the decree in monthly instalments of Rs. 1000/-. The decree was executed in E. P. No. 22 of 1970. The judgment-debtor filed an application that the decree had been satisfied inasmuch as he had already paid Rs. 60,300/- by 16-9-1974. This stand was obviously taken by invoking the Damdupat Rule provided in Section 10 of the Orissa Money-lenders Act (hereinafter referred to as the "Act"). On 3-1-1975, the executing court held that the judgment-debtor was liable to pay Rs. 47,080.56 together with pendente lite and future interest on the principal amount of Rs. 29,164.52 and the rule relied upon by the judgment-debtor was not applicable in respect of interest subsequent to institution of the suit. The judgment-debtor appealed and maintained that in view of the amended provisions of the Act, the creditor was not entitled to recover interest in excess of the principal amount and as the judgment-debtor had already paid more than double of the principal amount, his liability under the decree stood liquidated.

(3.) The learned single Judge relying on the provisions of Section 7-C and Section 7-D of the Act accepted this contention and has vacated the decision of the executing court. The decree-holder is in appeal.