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...on the following judgments in support of his contention that even after payment of the principal amount, a suit for the unpaid interest shall lie and such suit ...payment by virtue of a trade custom or that he cannot maintain a claim by filing a suit for recovery of interest alone, if the principal amount has been paid. Strictly speaking, when the debtor makes...counsel for the respondent/defendant, that the payment of the principal amount without making payment of interest would totally absolve the debtor from his liability to pay interest and that a ...
...taken together i.e (1) the principal sum (so adjudged), (2) pre-suit interest (so adjudged), and (3) decretal costs. By virtue of the 1956 amendment, the amount of interest adjudged as interest on...date of the suit and decretal costs cannot be ordered to carry future interest, but the amount adjudged as principal sum though inclusive of interest which has stood capitalised and has partaken...such agreement, the suit was filed for recovery of the amount due on 31-12-1952 as principal with future interest till the date of the suit. It was held that the effect of the agreement was to wipe off...
...contention of the learned counsel for the appellant. As discussed earlier, the cause of action in both these suits is the default in the payment of the interest and the principal ...of the appellant is that the subsequent stipulation in the mortgage deed gave him an option to recover either the interest or the principal amount even after the expiry of five years...also a default of payment of principal amount under the terms of the contract.
The cause of action in the present suit is also the same i.e., default in the payment of the ...
.... This finding is strengthened by the fact that in Ex-P/1 there is no mention about interest.
9. In the result, appeal is allowed to the extent of principal amount. Suit of the.... Plaintiff issued a notice of demand of Rs. 45,000/- with interest which was incorrectly replied. Hence, the suit for recovery of Rs. 45,000/- towards principal and Rs. 23,625/- towards interest...and arrears of rent.
4. After recording the evidence, learned trial Judge found transaction of money to be proved. However, the suit was dismissed on the ground that the amount was...
...34 CPC. Hence, we can safely deduce that the interest awarded is a discretion exercised by the court, on the principal amount claimed, in case of a suit for recovery of payment b.... The supplier had instituted Money Suit No. 109 of 1996 before Assistant District Judge No. 1, Kamrup for the payment of interest to the tune of Rs 24,57,927.28, on delayed payment of principal .... Therefore, he would have to refuse to accept the amount of payment and then file a suit for recovery of the principal amount and the interest on the delayed payment under the Act. The A...
...revision, the High Court enhanced solatium and interest and additional amount under Sections 23(2), 28 and 23(1-A) as amended by Act 68 of 1984. The appellants laid execution, firstly, after...26, JT (1995) 4 SC 233 is no longer res integra. He further contended that the appellants are entitled to appropriate the costs from the principal amount of compensation, then towards interest on...owner with just compensation by way of principal amount and interest accrued thereon. The owner of the land as judgment-creditor is entitled to appropriate the principal amount deposited by the...
...discretion to order payment of interest on the principal sum adjudged.8. What is the principal sum? Is the amount initially advanced can alone be treated as ‘principal sum’...:“1. Whether the principal amount as claimed by the Bank is not principal amount on the ground that it includes interest added from the date of advance till date of the suit? If so, ...pendency of this suit is liable to be adjusted against the principal amount or towards interest? OPD.4. Relief.”4. The order framing issues specifically records that...
...equitable mortgage at yearly rests till date of suit. The amounts paid after suit by the defendants were to be deducted as on the respective dates of payment and interest was to be paid as per judgment...entitled to future interest from the date of suit at 6% per annum on the principal amount due from the defendants till date of recovery of full amount.”In other...Ram AIR 1940 FC 20 and it was held that this provision gave a certain amount of discretion to the Court so far as interest after date of suit was concerned and it was no longer...
...limitation. The only contention urged by him was that the High Court erred in awarding interest on the principal amount claimed from the date of the suit. The question, whether interest should be awarded o...the principal amount claimed from the date of the suit, was within the discretion of the Court. In our opinion, the High Court rightly exercised that discretion. It disallowed the interest claimed by...opinion, the High Court was justified in awarding interest on the principal amount from the date of the suit.5. In the result, this appeal fails and the same is dismissed with costs....
..., adjustments be made firstly in payment of interest and costs and thereafter in payment of the principal amount, subject of course, to any agreement between the parties.21...(unless a contrary intention appears) apply the payment to discharge any interest due before applying it to the earliest items of principal.”11. The relevant...decree, interest on the decree will cease from the date of payment in proportion to the amount paid, although such amount may not in fact be the whole amount due under the decree. In that case...
...not be that the principal amount had already been paid and a fresh claim for interest was made thereafter under Section 3. That would turn the law of interest proposed by the legislature on its head. Learn...been issued after the principal amounts of the bills were already paid. Interest under Section 3 can always be awarded, as noticed above, even in a case where the principal amount has been paid and the...proceedings are for recovery of only interest. The question, however, is whether the notice provided under Section 3 can be issued after payment of the principal. On first principles, as the...
...in its business. The accused issued two cheques for repayment of the principal amount and the interest. Both these cheques when presented for payment were returned dishonoured. After the return of...accused executed a promissory note and agreement to repay the principal amount with interest by 13-9-1996. By getting this loan M/s Ganga Automobiles Ltd. started earning profits after investing the amount...Company was compelled to believe their statement and after mutual consideration, the accused gave two cheques dated 2-7-1997 for the principal amount and the interest. Again the cheques were returned...
...two months' time for making the payment of the amount found due. It was thus urged that there was no occasion for rendition of accounts and the plaintiff's suit was not fit to proceed according to...for the amount which may be found due to the contesting defendant, after rendition of accounts, together with costs and interest be passed in favour of the contesting defendant, after necessary court...'trial. Ultimately, on 5th May, 1953, after a considerable amount of evidence had been recorded, an application was presented on behalf of the plaintiff-respondent, for withdrawal of the suit. The...
...the interest @ 18% on the decretal amount from the date of the suit till the date i.e 26th April, 1984 which is being fixed by the Court for payment of the mortgage debts. After ...plaintiff will also be entitled to interest @ 12% per annum on the aggregate amount of principal, interest and costs upto the date of realization or actual payment. However, in case the defendants...J.V Gupta, J.:— The plaintiff, State Bank of India, filed the present suit for recovery of Rs. 93347.10 Pan account of amount due under the Cash Credit (Factory Type) account with interest...
...indebted to the plaintiff for Rs 11,723.56 nP on account of principal and Rs 2769.37 nP on account of interest. In spite of demands neither he nor the guarantor paid the dues. The plaintiff filed a suit...or be entitled to in respect of the amount secured.3. The demand for payment of the liability of the principal debtor was the only condition for the enforcement of the bond...solvency of the principal is not a sufficient ground for restraining execution of the decree against the surety. It is the duty of the surety to pay the decretal amount. On such payment he will be subrogated...
...Company claimed to have paid the instalments and completed the full payment of principal amount of Rs 50 lakhs. Regarding interest, the Company referred to further transactions between the Bank and its...defaulted the payment of balance amount towards interest with the result that the respondent Bank moved an application before the Company Judge in Company Petition No. 111 of 1995 praying for revival...was moved before the learned Company Judge wherein the appellant proposed to pay alleged balance principal amount of Rs 14,11,010 and the amount of Rs 7,06,120 as interest thereon in monthly...
...and Rs 2,31,138.52 from the date of the suit till the date of the payment. The decretal amount was, however, to be paid in monthly instalments of Rs 20,000 commencing from 1-9-1983 after making the...-debtor is first applied in the payment of interest and cost and then when that is satisfied, in payment of capital or the principal amount.6. In...decretal amount in liquidation of the principal amount in the first instance notwithstanding his liability to pay the interest and costs, are the questions required to be adjudicated in this appeal...
...agreed to pay interest at the rate of 18 per cent per annum with quarterly rests. When default in payment of the money was committed the aforesaid suit was filed for the recovery of the principal amount...liable to pay only a sum of Rs 55,699.20 as the principal amount plus interest at the rate of 18 per cent per annum for the period 12-4-1984 to 11-2-1985. In view, however, of the decision against...7. Whether the defendants agreed to pay interest if so, at what rate and to what amount? OPP8. Whether the plaintiff has no...
..., repudiated its liability for the said sum of Rs 1,02,813.71 which was the sum, according to the plaintiffs, payable after deducting the unpaid premium, interest thereon and also the interest and principal...principal amount of loan, clause 4 of the loan bond specifies that the same shall be paid when called upon to make repayment at the said office of the said advance with all interest which may be due...together with up-to-date interest and other charges, the balance of the amount was not sufficient to cover in full the unpaid quarterly premium due on 1-6-1969. As a result, the available surrender value was...
...institution of the suit, with further interest at such rate not exceeding six per cent per annum as the court deems reasonable on such principal sum, from the date of the decree to the date of payment, or...untoward incident irrespective of who was at fault therefor.12. Mr Dinesh submitted that payment of interest on any such amount which is held to be due to a person is...awarded amount was to be made, since in default of such payment, interest would be payable on the awarded sum at the rate indicated in the order.19. Mr Radhakrishnan submitted...