Interest is to be awarded at contractual rate from date of loan till date of filing of Plaint 12% p.a. would be applicable from date of Suit till date of passing of Decree Interest at 6% p.a. would be leviable from date of Decree till date of realization
Citation 2014 (1) MWN (Civil) 286 (Mad) IN THE HIGH COURT OF MADRAS 5. Palanivelt,). S.A. No. 627 of 2010. November 29, 2013 Attur Thuluva Velalar Sangam, Rep. by Its Secretary, K. Raja Son of Kuppusamy Naicker, Office At No.100, Thayumanavar Street, Attur Town and Post, Salem District...Appellant V 5. Duralsamy .......Respondent CODE OF CIVIL PROCEDURE, 1908 (5 of 1908), Section 34-Rate of Interest Suit for recovery of money - Decree passed in Suit Dispute with regard to rate of Interest - Held, Interest is to be awarded at contractual rate from date of loan till date of filing of Plaint 12% p.a. would be applicable from date of Suit till date of passing of Decree Interest at 6% p.a. would be leviable from date of Decree till date of realization Decision of Apex Court in N.M. Veerappa v. Canara Bank 1998 (1) CTC 219 relied upon Second Appeal allowed. [Paras 8 & 9]