Allahabad Bank v. Ritajain

Delhi High Court · 05 Oct 2011 · 2011:DHC:16914-DB
Pradeep Nandrajog; Sunil Gaur
LPA 757/2011
2011:DHC:16914-DB
civil appeal_allowed

AI Summary

The Delhi High Court disposed of the appeal by consent, modifying the order to direct the appellant bank to pay simple interest at 9% per annum on the disputed sum from 2004 until repayment.

Full Text
Translation output
$-17 HIGH COURT OF DELHI · LPA 757/2011 ALLAHABAD BANK ..... Appellant
RlTAJAlN
CORAM:
Through: Mr.Aschim Vachher & Mr.S.M.Hashmi, Advocates.
VERSUS
..... Respondent
Through: Mr.Preet Pal Singh, Advocate
HON'BLE MR. JUSTICE PRADEEP NANDRAJOG
HON'BLE MR. JUSTICE SUNIL GAUR
05.10.2011
ORDER

1. With respect to order dated 15.9.2011, learned counsel for the parties state that the appeal may be disposed of taking on record the consent that the impugned order dated 19.8.2011 be modified, in that, appellant shall pay to the respondent interest @9% p.a.(simple) from 15.1.2004 till date the sum of ~60 lacs was returned to the respondent.

2. Payment towards interest is agreed to be returned within 15 days from today. CM No.17270/2011 Application stands disposed of as infructuous. PRADE~P::::tlG,J OCTOBER 05, 2011