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High Court of DelhiRSA/31/2007

Dinesh Bhardhwaj & ANR. v. Janardhan Singh & ORS.

2016-09-28Hon'Ble Mr. Justice Valmiki J. Mehta3 pages

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ DINESH BHARDHWAJ & ANR.

..... Appellants Through:

Mr. K. Sunil, Advocate.

versus JANARDHAN SINGH & ORS.

..... Respondents Through:

Mr. P.K. Sharma, Advocate for R-1.

CORAM:

HON'BLE MR. JUSTICE VALMIKI J. MEHTA

O R D E R

% 28.09.2016 C.M. Appl. No. 33098/2016 (for release of FDRs, U/S 151 CPC, moved by the appellants) 1.

This application is only pressed for distributing the amount deposited in this Court, inasmuch as, by paragraph 12 of the judgment dated 22.8.2016 appellant has been granted relief to the extent of reduction in the rate of interest from 18% per annum simple to 6% per annum simple.

2.

It is seen that two fixed deposit receipts of Rs.1,75,000/- each have been deposited in this Court and which would then carry further

interest on the fixed deposits.

3.

Accordingly, the amount which would be paid to the respondent No.1/plaintiff would be the amount of Rs.1,18,674/- with interest at the rate of 6% per annum from 5.2.1997 till 7.5.2007 when the fixed deposit receipts were created.

This amount would be treated as the principal amount and on this amount respondent No. 1 will get interest at the interest payable on the fixed deposit receipts which have been filed by the appellants in this Court. This amount, i.e., the principal amount being the amount of Rs.1,18,674/- with interest at the rate of 6% per annum from 5.2.1997 till 7.5.2007 plus further interest thereon from 7.5.2007 till the date of cheque being drawn by the Registry of this Court in favour of respondent No.1/plaintiff will be paid to respondent No.1/plaintiff. All balance amount remaining of the fixed deposit receipts which would be the amount deposited on 7.5.2007 by the appellants along with interest thereon in terms of the fixed deposit receipt will be paid to the appellants.

4.

This order will be taken as an order for payment of the amount

to the respective parties as also in modification of anything to the contrary stated in the order dated 9.9.2016.

5.

C.M. stands disposed of.

VALMIKI J. MEHTA, J SEPTEMBER 28, 2016/AK