DALBIR SINGH Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Vide order dated 30.11.1996, Additional Civil Judge (Senior Division), Kurukshetra decreed the suit of the Punjab National Bank for the recovery of Rs. 81750/- against the defendants with interest @ 12.5% per annum with half yearly rests on the principal amount i.e. Rs. 59,000/- from the date of institution of the suit till the date of realisation of the decretal amount. It was ordered that the plaintiff bank shall be entitled to recover the decretal amount along with costs and interest etc. by the sale of the mortgaged property. Liability of the defendants was adjudged joint and several. Punjab National Bank went in appeal.

(2.) Vide order dated 5.8.1997, District Judge, Kurukshetra accepted the appeal of the plaintiff Bank and ordered that the plaintiff Bank shall be entitled to interest on the principal sum adjudged i.e. Rs. 81750/- at 12.5% per annum from the date of suit till realisation and the decree passed by the learned trial Court was modified to this extent.

(3.) Defendant Dalbir Singh (loanee) has come up in appeal to this Court whereby he has prayed that interest should have been allowed at Rs. 59,000/- which was the principal amount of loan advanced to him by the plaintiff Bank.