SBBJ Vs. NAWAL KISHORE MATHUR

JUDGEMENT

(1.) HEARD learned counsel for the appellant � plaintiff. This appeal has been filed by the plaintiff � appellant State Bank of Bikaner and Jaipur aggrieved by the decree dated 25.11.2009 passed in favour of the plaintiff � bank for recovery of a sum of Rs.7,00,399/-. Vide para 15 and 16 of the judgment under appeal, the learned court below has clearly held that the respondent � defendants Nawal Kishore Mathur and Ravi Mathur were liable to pay the said sum to the bank on account of their default in repayment of the loan in question. However, the learned court below has granted the liberty to the defendants to pay the said money in monthly installments of Rs.10,000/- and if there are three defaults in the payment of installments, the plaintiff-bank wouldl be entitled to recover the entire decretal sum by one installment in lumpsum. The learned court below also awarded interest @ 9% per annum from the date of filing of the appeal i.e. 14.01.2008. The present appeal has been filed by the appellant � bank only to the limited extent of granting of installments and awarding of interest @ 9% per annum. According to the learned counsel for the appellant, Mr. Jagdish Vyas, as per PLR, the trial court should award interest on decretal amount @ 14% per annum.

(2.) LEARNED counsel for the appellant fairly submitted that since the execution proceedings are also pending and the defendant judgment debtor has failed to deposit three installments fixed by the learned trial court, the relief claimed in the present appeal to the grant of installment, however, has become infructuous since entire decree has become executable. He submitted that the interest rate awarded by the learned court below is lesser than the contractual rate. Having heard learned counsel and upon going through the reasons given by the learned court below, this Court is of the opinion that the court could awarded interest @ 9% per annum and can mould the relief, looking to the facts and circumstances of the case, in favour of the aggrieved person. Accordingly, the present appeal is dismissed. No order as to cost. A copy of this order be sent to the court below and to the opposite side.