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% 30.09.2011
Present: Mr. S.M. Pandey and Mr. Vinod Ahuja, Advocate for the petitioner. |
Mr. Jitender Vashisht, Advocate for the respondent.
+CM No. 18396/2011 (exemption) in CM (M) No. 1149/2011
Exemption allowed subject to just exceptions.
CM (M) No. 1149/2011 and CM No. 18395/2011 (stay)
The order impugned before this court is the order dated
20.07.2011 vide which the request of the
I (
% 30.09.2011
Present: Mr. S.M. Pandey and Mr. Vinod Ahuja, Advocate for the petitioner. |
Mr. Jitender Vashisht, Advocate for the respondent.
+CM No. 18396/2011 (exemption) in CM (M) No. 1149/2011
Exemption allowed subject to just exceptions.
CM (M) No. 1149/2011 and CM No. 18395/2011 (stay)
The order impugned before this court is the order dated
20.07.2011 vide which the request of the
JUDGMENT
debtor seeking extension of time to pay the decreetal amount with interest at the reduced rate of 12% per annum had been declined.
Record shows that the decree holder/respondent had obtained a decree in his favour on 02.05.2007; the principal amount was Rs. 8,00,243/-. Objections against this Decree/Award had been filed which had been dismissed by the first Appellate
Court on 17.09.2009. The matter had reached the High Court and the High Court on 04.05.2010 had granted concession to the petitioner permitting him to pay the decreetal amount with interest at the rate of 12% per annum on the condition that the judgment debtor would pay the aforenoted amount within a period of four months from the date of the said order i.e. up to 04.09.2010.
Admittedly, the full amount was not paid in this aforenoted period of four months; only a sum of Rs. 2,00,243/- had been paid up to
2011:DHC:19462
04.09.2010. As on date, principal sum ofRs. 8,00,243/- stands paid as also a sum of Rs. 1,43,752/-. Learned counsel for the petitioner states that the benefit of interest payable at the rate of 12% per annum be accorded to him and he is ready and willing to clear the balance of arrears with an outer limit of 30 days from today.
Calculating interest at the rate of 12% per annum on the principal sum of Rs. 8,00,243/- (in terms of the Award) the interest quotient is Rs. 5,00,725/-; cost of Rs. 26,000/- has also been awarded in favour of the plaintiff. The total interest amount alongwith cost is thus Rs. 5,26,725 out of which, admittedly, Rs. 1,43,752/- has since been paid leaving a balance amount of Rs. 3,82,973/-; this amount shall be cleared by the petitioner within a period of 30 days from today; counsel undertakes on behalf of his client to clear this balance arrear before the said date failing which the benefits which have been accrued to the petitioner in terms of the Award dated 04.05.2010 shall be negated and he shall become liable to pay interest at the rate of 22% per annum.
With these directions, this petition is dispcfeed of.
INDERMEET KAUR, J.
SEPTEMBER 30, 2011 rb
2011:DHC:19462
Record shows that the decree holder/respondent had obtained a decree in his favour on 02.05.2007; the principal amount was Rs. 8,00,243/-. Objections against this Decree/Award had been filed which had been dismissed by the first Appellate
Court on 17.09.2009. The matter had reached the High Court and the High Court on 04.05.2010 had granted concession to the petitioner permitting him to pay the decreetal amount with interest at the rate of 12% per annum on the condition that the judgment debtor would pay the aforenoted amount within a period of four months from the date of the said order i.e. up to 04.09.2010.
Admittedly, the full amount was not paid in this aforenoted period of four months; only a sum of Rs. 2,00,243/- had been paid up to
2011:DHC:19462
04.09.2010. As on date, principal sum ofRs. 8,00,243/- stands paid as also a sum of Rs. 1,43,752/-. Learned counsel for the petitioner states that the benefit of interest payable at the rate of 12% per annum be accorded to him and he is ready and willing to clear the balance of arrears with an outer limit of 30 days from today.
Calculating interest at the rate of 12% per annum on the principal sum of Rs. 8,00,243/- (in terms of the Award) the interest quotient is Rs. 5,00,725/-; cost of Rs. 26,000/- has also been awarded in favour of the plaintiff. The total interest amount alongwith cost is thus Rs. 5,26,725 out of which, admittedly, Rs. 1,43,752/- has since been paid leaving a balance amount of Rs. 3,82,973/-; this amount shall be cleared by the petitioner within a period of 30 days from today; counsel undertakes on behalf of his client to clear this balance arrear before the said date failing which the benefits which have been accrued to the petitioner in terms of the Award dated 04.05.2010 shall be negated and he shall become liable to pay interest at the rate of 22% per annum.
With these directions, this petition is dispcfeed of.
INDERMEET KAUR, J.
SEPTEMBER 30, 2011 rb
2011:DHC:19462