2002 (3) TMI 944

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....eer, S. Balaji and S. Srinivasan, Advocates, with him) for the Petitioner; M.A Krishnamoorthy, M.A Chinnasamy and S. Thananjayan, Advocates, for the Respondent. Order 1. One of the contentions which arises for consideration is whether the contractual rate of interest should have been awarded in the instant case. Mr K.N Raval contends that the Recovery of Debts Due to Banks and Financial I....

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....erest (i.e interest post-decree not exceeding 6 per cent per annum) shall be awarded on such principal sum". This seems to indicate that interest pendente lite and post-decree cannot be awarded in excess of 6 per cent per annum and furthermore in paragraph 55(8) (at SCC p. 404) there is also an observation that the "award of interest pendente lite and post-decree is discretionary with the....