...Order1. One of the contentions which arises for consideration is whether the contractual rate of interest should have been awarded in the instant..., then by virtue of the proviso to Section 34(1) CPC, this being a commercial transaction, the rate of interest can exceed 6 per cent per annum but shall not exceed the contractual rate ...:“Provided that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed six per cent per annu...

...aforesaid order the appellant has not deposited the entire amount. 3. A perusal of the impugned judgments shows that the appellant had agreed to the contractual rate of interest @ 17.25...% per annum but at the same time these terms necessarily need not govern the grant of interest pendente lite. The question of law which arises for the consideration of this court is .... Bhagwant Singh and others, 1996(1) P.L.R. 570, wherein it was held that the grant of interest pendente lite is not a hostage to the terms of the contract but the court can grant interest at ...

...1. Plaintiff is the appellant. The challenge against the decree is that the Sub-Judge did not grant interest at the contractual rate and awarded interest only at 11% per annum.2. The learn...Court went wrong in granting interest only at 11% per annum and not at the contractual rate of 18% per annum. Under S. 34, C.P.C the Court has wide discretion in the matter of granting pendente lite ...to grant interest which may exceed 6% per annum but not exceeding the contractual rate of interest. The proviso makes it clear that where there is no contractual rate, interest m...

...Jagannatha Shetty, J.:—The dispute in this appeal relates only to the rate of interest charged from the date of suit till the date of realisation on a loan secured by mortgaging t...of interest is 2.5% above the Reserve Bank rate of interest subject to a minimum of 14%. The Trial Judge has awarded 6% interest from the date of suit till realisation ...Courts to decree interest at the contractual rates upto the date of redemption in all circumstances even if there is no question of the rate being penal, excessive or substantially unfair.In...

...decree the suit of the appellant. However the rate of interest that was granted was 5% per annum.2. The only point agitated by Mr. Mahajan for the appellant is that the transaction between the appell...view of the matter, he argues that when the contractual interest is already proved by document contract between the parties, there was no reason for the lower Court not to have granted the contractual rate...that he is absolutely justified in saying that the contractual rate of interest in commercial transaction ordinarily has to be granted. In this case the lower Court has not found any special reason to...

...Judge decreed the suit allowing contractual rate of interest at 10 1/2 per cent per annum from the date of suit till the date of realisation. The appeal against the decree was dismissed by modifyi...:“Provided that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed 6 per cent per annum, but sha...of interest or where there is no contractual rate, the rate at which moneys are lent or advanced by nationalised banks in relation to commercial...

...adjudged had arisen out of a commercial transaction, the rate of such further insterest may exceed six per cent per annum, but shall not exceed the contractual rate of interest or where t...contractual rate, the rate at which moneys are lent or advanced by nationalised banks in relation to commercial transactions.”From a reading of the proviso it is clear that it carves out an exception...Section 34, C.P.C where the liability in relation to the sum decreed had arisen out of a commercial transaction, the rate of such further interest may exceed 6% per annum, but shall not e...

...rate of interest. The plaintiff claims that the contractual rate of interest should run until six months after the last decree, that is, six months after 5th May 1931. The Courts below ha...states that the rate of interest to be awarded is the contractual rate for the period down to the date fixed for redemption under Order 34, Rule 2. Following this ruling I hold...that the plaintiff has a good claim and accordingly I allow this second appeal with costs throughout and I direct that the decree shall be amended to specify that the contractual rate of interest should...

...words, future interest from date of suit was to be only 6% per annum and not at the contractual rate of 16.5%.3. The plaintiff-Bank filed an appeal in the High Court as Regular F...at the contractual rate of interest of 16.5...rate of interest which was not necessarily the contractual rate but something less.6. We have heard the learned counsel for the respondent-Bank. Apart from contending that...

...thinks fit:Provided that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further interest may exceed...of interest or where there is no contractual rate, the rate at which moneys are lent or advanced by nationalised banks...judgment with a simple interest at the rate of 19.4% per annum from 11-8-2001 till realisation.7. The appeal from the said order was dismissed by the Appellate Tribunal as also...

...interest at the contractual rate of 16½% per annum and against the quarterly instalment of Rs. 5,000/- with interest due against the decretal dues of Rs. 9,23.521, 44p.2. Th...decree, an execution application has been filed in 1982, and we are told that till today no recovery has been made.6. On the question of interest, there is no dispute that the contractual rate ...interest is 16½% per annum. The learned trial Judge also upheld this observing That no doubt the rate of interest is stated as 16½% but further held that it cannot form the basis of contractual ...

....2. Aggrieved by that order the Punjab and Sind Bank has preferred this appeal. It has not picked up any conflict with the principal amount. Its only grievance is that contractual rate of interest @ 1...contractual rate of interest.3. The appellant Bank has made a reckless attempt to assail the order of the lower Court. For the following reasons, this appeal is liable to be dismissed...amount is found due up to the date of realization or actual payment, on the application as it thinks fit to meet the ends of justice.”5. No rate of interest under the circumstances can be mad...

...impugned order, has awarded contractual rate of interest @ 18.5 p.a. with monthly rests, which is error on record, as no such agreement was reached between the parties for payment of interest with...rightly allowed the contractual rate of interest, there being a contract signed between the parties. 8. It will be evident from the DRAT's order that it has noticed the decision of the..., till the date of realisation, this Tribunal finds that the same appears to be meagre in view of the contractual rate of interest at 18.5% p.a. with monthly rests from the date of Applic...

...giving installments but rate of interest is as per contractual rate which is to be considered. The request made by defendants that as per order XXXIV Rule 11, reasonable interest can be fixed or c...by civil court. Now, only contention is to be examined by this Court is that whether objection raised by appellant vide Exh.147 purshis that they are entitled to impose rate of interest as per contractual ...means most of the respondents are died. Now, only question is to be examined by this Court that whether demand made by appellant or insist about the contractual rate of interest from defendant whether...

...which was inserted by the Act of 1976 with effect from July 1, 1977, which states that where the liability in relation to the sum so adjudged had arisen out of a commercial transaction, the rate of such further ...of interest or where there is no contractual rate, the rate at which moneys are lent or advanced by...sub-section (1) of section 34 clearly states that where the liability arises out of the commercial transaction, the rate of interest may exceed 6 per cent. per annum, but that sh...

...‘agricultural loans’ and thus related to ‘commercial transaction’ within the meaning of the proviso to the above section, the learned trial Judge should have also allowed contractual rate of interest from...commercial transaction, the rate of such further interest may exceed six per cent per annum, but shall not exceed the contractual rate of interest or where there is no ...per annum. If, however, the liability arises out of a ‘commercial transaction’ the rate may exceed six per cent but shall not exceed the contractual rate of interest.5. In elaboratin...

...decreed the suit with interest at 13.5% p.a The Appellant Bank has filed this appeal only against the rate of interest awarded by the trial Court.2. The claim of the Bank is that the trial C...case of agricultural advances). If the Courts want to reduce the rate of interst, either current or future, such reduction should be supported by reasons”.3. At the outset, it is to be held that the Bank is n...earlier date as the Court thinks fit;(Emphasis supplied)Provided that where the liability to the sum so adjudged had arisen out of a commerical transaction, the rate of such further ...

...transaction, the rate of such further interest may exceed six per cent per annum, but shall not exceed the contractual rate of interest or where there is no contractual ...entitled to grant interest at the current rate of interest or contractual rate as it deems reasonable to be paid on the principal sum adjudged to be payable and/or awarded, from the date ...interest on the compensation award was not only upheld but keeping in mind the surrounding circumstances, this Court also enhanced the rate of interest from 6% to 12% from the date of the application being...

...Counsel for the petitioner has not been able to show as to what was the contractual rate of interest on the enhanced land cost.  He further admits that the contractual rate of ...actual realization.  In view of the above position, we are not inclined to interfere with the orders of two foras below who have ordered calculation on the basis of simple rate of interest.  Hen...Estate Officer, HUDA, Ambala in respect of the demand of Rs. 3,09,294/-.  After going through the said calculations it is seen that the interest on interest has been charged. Besides this, learned...