STATE BANK OF INDIA Vs. KRISHAN KUMAR AUL

JUDGEMENT

(1.) The petitioner filed a suit for recovery of Rs. 1,78,112.32/- Ps. against the defendants Krishan Kumar Ant and Varinder Aul. The loan was advanced to Defendant No. 1 and Defendant No. 2 stood as guarantor for repayment of the loan amount. The learned Subordinate Judge passed a decree for recovery of Rs. 1,78,112.32/- Ps. in favour of the plaintiff and against the defendants. However, he allowed the payment of the decreed amount in monthly instalments of Rs. 1,500/- each. The plaintiff-Bank was also held entitled to claim future interest at the rate of 13 per cent per annum till realization of the entire decretal amount.

(2.) The plaintiff feeling aggrieved against the judgment and decree of the learned trial Judge whereby he allowed payment of the decretal amount in monthly instalments, has filed this revision petition.

(3.) The learned counsel for the respondent has raised a preliminary objection to the maintainability of the revision petition. He submits that the remedy of the plaintiff lay by way of first appeal under Section 96 of the Code of Civil Procedure. I do not propose to adjudicate on this point in this case. In fairness, the learned counsel for the respondents agreed to pay the decretal amount in monthly instalments of Rs. 3,500/- till the decree is fully satisfied. In view of the very fair stand taken by the learned counsel for the respondents, I am not inclined to interfere with the judgment aid decree passed by the learned trial Judge. I however, the decree is modified to the extent that with effect from January 1, 1989, instead of monthly instalments of Rs. 1,500/- as mentioned in the decree, the defendants will pay monthly instalments of Rs. 3,500/- and they will go on paying the amount till realisation.