PUBALI BANK LTD. Vs. ABDUL JALIL BHUIYAN

JUDGEMENT

(1.) This Rule is directed against the order dated 18-9-97 passed by the Subordinate Judge and Artha Rin Adalat, 2nd Court Madaripur in Money Execution Case No.25 of 1994 waiving 60% of the interest and allowing payment of the balance of the decretal dues by instilments.

(2.) Short facts relevant for the purpose of the Case are that, the petitioner Bank as plaintiff instituted a suit in the court of the Artha Rin Adalat and Subordinate Judge, 2nd Court Madaripur being Money Suit No. 83 of 1991, for realisation of an amount of Taka 13,23,315.09 as outstanding dues as on 28-3-91. During the pendency of the suit the defendant paid the plaintiff Bank an amount of Taka 4,00,000.00 in respect of the claims of the Bank. Eventually the defendant opposite party did not appear before the Artha Rin Adalat to contest the suit. The suit was ultimately decreed ex-parte on 23-3-93 for an amount of Taka 9,23,315.09 as on 28-3-91, with interest on the decretal amount at the rate of 16% per annum, Subsequently, the petitioner-decree holder levied Money Execution Case No.25 of 1994 in the court of the Subordinate Judge, 2nd Court and Artha Rin Adalat, Madaripur for realisation of the decretal dues along with the accrued interest thereon till realisation. It is found that the judgment debtor opposite party in all paid an amount of Taka 9,000.00 to the plaintiff bank against the decretal amount.

(3.) The learned execution court by its order dated 15-10-96 directed the judgment debtor opposite party to deposit the balance of the outstanding decretal dues by 12 equal monthly instilments of Taka 76,943.00 each but the opposite party failed to comply with the order of the court. Thereafter the judgment debtor opposite party prayed for extension of time for satisfying the decretal dues. Thereupon the learned Execution Court by order dated 10-4-97 directed the judgment debtor opposite party to pay the balance of the decretal dues amounting to Taka 8,33,315.09 in 7 equal monthly instilments of Taka 1,19,045.09 each. Subsequently, the learned execution court by order dated 18-9-97 modified the aforesaid order dated 10-4-97 and suo motu exempted 60% of the interest on the principal amount to be paid by 6 equal instilments.