Gujarat High Court High Court

Bank vs Gujarat on 13 July, 2010

Gujarat High Court
Bank vs Gujarat on 13 July, 2010
Author: Md Shah,&Nbsp;
   Gujarat High Court Case Information System 

  
  
    

 
 
    	      
         
	    
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FA/899/2010	 2/ 2	ORDER 
 
 

	

 

IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
 

 


 

FIRST
APPEAL No. 899 of 2010
 

With


 

CIVIL
APPLICATION No. 3988 of 2010
 

In
FIRST APPEAL No. 899 of 2010
 

=========================================================

 

BANK
OF BARODA - Appellant(s)
 

Versus
 

GUJARAT
STATE CO-OPERATIVE MARKETING FEDRATION LIMITED & 1 - Defendant(s)
 

=========================================================
 
Appearance
: 
MR
JAYESH A DAVE for
Appellant(s) : 1, 
MR DIPEN A DESAI for Defendant(s) : 1, 
None
for Defendant(s) :
2, 
=========================================================


 
	  
	 
	  
		 
			 

CORAM
			: 
			
		
		 
			 

HONOURABLE
			MR.JUSTICE MD SHAH
		
	

 

Date
: 13/07/2010 

 

 
 
ORAL
ORDER

This
appeal is filed against the judgment and decree dated 13.11.2009
passed in Civil suit No.5894 of 1989 whereby the learned City Civil
Court decreed the suit and ordered the defendant no.1 to pay
Rs.3,00,000/- to the plaintiff along with interest @18% per annum
from the date of suit till realization.

Heard
the learned advocates for the parties and perused the judgment and
decree passed by the learned trial Court.

Learned
advocate Mr.Dave for the appellant submitted that he does not press
this appeal on merits but only challenges the interest awarded by the
trial Court and submitted to reduce the rate of interest to 12% per
annum instead of 18% per annum as awarded by the trial Court.

As
against this, learned advocate Mr.Desai for the respondents submitted
that he has no objection if the rate of interest is granted @15% per
annum.

It
is an admitted fact that though bank guarantee was in existence, the
payment was withheld by the appellant-original defendant no.1.
Without going into the merits of the appeal, as the learned advocates
do not press the appeal on merits, in the opinion of this Court if
the interest is awarded @15% per annum instead of 18% per annum, the
ends of justice will be met.

Therefore,
the appeal is partly allowed. The award is modified to the extent of
interest @15% per annum instead of 18% per annum. The defendant
no.1-Bank of Baroda is at liberty to withdraw the decretal amount at
the rate of 15% from the date of filing of the suit till the date of
withdrawal from the trial Court. Rest of the amount will be refunded
to the original plaintiff.

In
view of the order passed in the First Appeal, Civil Application
stands disposed. No order as to costs.

(
M.D.Shah, J )

srilatha

   

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