M/S Golden Steel Furnitures And … vs Unknown on 27 November, 2008

R.S.A No. 4483 of 2001                                     ::1::

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH


                                       R.S.A No. 4483 of 2001

                                       Date of decision : November 27, 2008


M/S Golden Steel Furnitures and Allied Industries & others

                                             ...... Appellants.

                               through Mr.Avnish Mittal, Advocate

                         v.
M/S Bhartiya Industries and another,

                                             ...... Respondents

                                  through Mr.Lalit.K.Gupta, Advocate


CORAM : HON'BLE MR.JUSTICE AJAY TEWARI

                                ***

1. Whether Reporters of Local Newspapers may be allowed to see the
judgment ?

2. To be referred to the Reporters or not ?

3. Whether the judgment should be reported in the Digest ?

***

AJAY TEWARI, J (Oral)

This appeal has been filed against concurrent judgments of the

Courts below decreeing the recovery proceedings initiated by the

respondents against the appellants for the price of goods delivered vis

Rs.21,791.55/- as on 25.3.1991.

Respondent No.1 filed a suit for recovery of the said unpaid

price along with interest @ 2% pm total amounting to Rs.44,441.55. The

trial Court allowed the claim with future interest @ 12% p.a from the date

of filing of the suit till realization. The learned lower appellate Court has

dismissed the appeal.

Learned counsel for the appellants has stated that during the

pendency of this appeal, an amount of Rs.70,000/- was paid on 26.9.2003.

R.S.A No. 4483 of 2001 ::2::

The dispute, thus, survives only to the extent of the unpaid interest.

As per learned counsel for the respondents, the interest at the

decretal rate works out to about Rs.5200/- per year and, thus, uptill 2003 i.e

the date of payment, an amount of Rs.94,000/- was due against which, as

mentioned above, payment of Rs.70,000/- has been made.

Learned counsel for the appellants has argued that in view of

the usurious rate of interest claimed on the original amount (24% pa), it

would be in the interest of justice that the appellants be not burdened with

any further interest. He further urged that if the normal practice of 6%

interest is adopted, it would be clear that the appellants have paid the entire

amount.

Considering the facts and circumstances of the case, in my

opinion it would be in the interest of justice to hold that the respondents are

entitled to Rs.10,000/- more as interest. With these observations, this

appeal is disposed of with no order as to costs.

                                          ( AJAY TEWARI            )
November 27 , 2008.                            JUDGE
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