{"id":91114,"date":"2008-11-27T00:00:00","date_gmt":"2008-11-26T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-golden-steel-furnitures-and-vs-unknown-on-27-november-2008-2"},"modified":"2015-12-17T05:06:24","modified_gmt":"2015-12-16T23:36:24","slug":"ms-golden-steel-furnitures-and-vs-unknown-on-27-november-2008-2","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-golden-steel-furnitures-and-vs-unknown-on-27-november-2008-2","title":{"rendered":"M\/S Golden Steel Furnitures And &#8230; vs Unknown on 27 November, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Punjab-Haryana High Court<\/div>\n<div class=\"doc_title\">M\/S Golden Steel Furnitures And &#8230; vs Unknown on 27 November, 2008<\/div>\n<pre>R.S.A No. 4483 of 2001                                     ::1::\n\nIN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH\n\n\n                                       R.S.A No. 4483 of 2001\n\n                                       Date of decision : November 27, 2008\n\n\nM\/S Golden Steel Furnitures and Allied Industries &amp; others\n\n                                             ...... Appellants.\n\n                               through Mr.Avnish Mittal, Advocate\n\n                         v.\nM\/S Bhartiya Industries and another,\n\n                                             ...... Respondents\n\n                                  through Mr.Lalit.K.Gupta, Advocate\n\n\nCORAM : HON'BLE MR.JUSTICE AJAY TEWARI\n\n                                ***\n<\/pre>\n<p>1.   Whether Reporters of Local Newspapers may be allowed to see the<br \/>\n     judgment ?\n<\/p>\n<p>2.   To be referred to the Reporters or not ?\n<\/p>\n<p>3.   Whether the judgment should be reported in the Digest ?\n<\/p>\n<p>                                ***<\/p>\n<p>AJAY TEWARI, J (Oral)<\/p>\n<p>             This appeal has been filed against concurrent judgments of the<\/p>\n<p>Courts below decreeing the recovery proceedings initiated by the<\/p>\n<p>respondents against the appellants for the price of goods delivered vis<\/p>\n<p>Rs.21,791.55\/- as on 25.3.1991.\n<\/p>\n<p>              Respondent No.1 filed a suit for recovery of the said unpaid<\/p>\n<p>price along with interest @ 2% pm total amounting to Rs.44,441.55. The<\/p>\n<p>trial Court allowed the claim with future interest @ 12% p.a from the date<\/p>\n<p>of filing of the suit till realization. The learned lower appellate Court has<\/p>\n<p>dismissed the appeal.\n<\/p>\n<p>             Learned counsel for the appellants has stated that during the<\/p>\n<p>pendency of this appeal, an amount of Rs.70,000\/- was paid on 26.9.2003.\n<\/p>\n<p> R.S.A No. 4483 of 2001                                    ::2::\n<\/p>\n<p>The dispute, thus, survives only to the extent of the unpaid interest.<\/p>\n<p>             As per learned counsel for the respondents, the interest at the<\/p>\n<p>decretal rate works out to about Rs.5200\/- per year and, thus, uptill 2003 i.e<\/p>\n<p>the date of payment, an amount of Rs.94,000\/- was due against which, as<\/p>\n<p>mentioned above, payment of Rs.70,000\/- has been made.<\/p>\n<p>             Learned counsel for the appellants has argued that in view of<\/p>\n<p>the usurious rate of interest claimed on the original amount (24% pa), it<\/p>\n<p>would be in the interest of justice that the appellants be not burdened with<\/p>\n<p>any further interest. He further urged that if the normal practice of 6%<\/p>\n<p>interest is adopted, it would be clear that the appellants have paid the entire<\/p>\n<p>amount.\n<\/p>\n<p>             Considering the facts and circumstances of the case, in my<\/p>\n<p>opinion it would be in the interest of justice to hold that the respondents are<\/p>\n<p>entitled to Rs.10,000\/- more as interest.      With these observations, this<\/p>\n<p>appeal is disposed of with no order as to costs.<\/p>\n<pre>                                          ( AJAY TEWARI            )\nNovember 27 , 2008.                            JUDGE\n`kk'\n <\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Punjab-Haryana High Court M\/S Golden Steel Furnitures And &#8230; 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 &amp; others &#8230;&#8230; Appellants. through [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,28],"tags":[],"class_list":["post-91114","post","type-post","status-publish","format-standard","hentry","category-high-court","category-punjab-haryana-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M\/S Golden Steel Furnitures And ... vs Unknown on 27 November, 2008 - Free Judgements of Supreme Court &amp; 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