Union of India v. Laxmi Narain Sinha, (S.C.) BS194803
SUPREME COURT OF INDIA

Before:-A.P. Misra and B.N. Agrawal, JJ.

C.A. No. of 2001, (Arising out of S.L.P. (C) Nos. 13971-72 of 2000). D/d. 19.1.2001.

Union of India and others - Appellants

Versus

Laxmi Narain Sinha - Respondent

Interest on Principal Amount -

ORDER

Leave granted.

According to the learned Counsel appearing for the Union of India, in pursuance of the order of this Court the balance amount payable, namely, interest on the principal amount of Rs. 4,50,000/- from 21st March, 1976 to 8th April, 1998 amounts to Rs. 11,90,000.72 with costs of Rs. 5,916/- has been deposited in the Executing Court and hence the decree stands fully satisfied. This fact is disputed by the respondent.

2. The admitted position is that interest calculated and deposited is that of simple interest while respondent claims it should be compound interest. This is a matter in issue which is yet to be decided.

3. However, learned Counsel for the respondent further submits, as per instructions even the said deposits fall short even if calculated in terms of simple interest to the extent of Rs. 1,65,430/- to which the other side disputes. It is not necessary for us to go into this question. The respondent may raise this question before the Executing Court about the shortfall, if any. Any amount deposited by the appellant may be withdrawn by the respondent. In view of this deposit the interim order is made absolute. The appeal is disposed of.

Appeal disposed of.