Limitation period for interest on principal debt claims: whether interest shares the same time bar; appeals dismissed.

The dominant issue was whether the limitation period applicable to a claim for the principal amount also governs a claim for interest arising from that principal claim. The SC held, as a matter of reasonableness and legal symmetry, that the same limitation period must apply to the interest claim because interest is ancillary to, and dependent upon, the principal liability. Consequently, the SC found no merit in the appeals and dismissed them with costs.

---

---

The Supreme Court of India held that the period of limitation for a claim on the principal amount should also apply to the claim for interest. The appeals were dismissed with costs. [Citation: 1999 (10) TMI 701 - SC Order]

---