Pushpa Bagla v. Kotak Mahindra Bank Ltd

$~25 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ ARB.P. 431/2016 PUSHPA BAGLA ..... Petitioner Through:

versus KOTAK MAHINDRA BANK LTD ..... Respondent Through:

Ms Zeba Khair, Advocate.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R

% 17.11.2016 IA No. 14166/2016 This is an application seeking clarification of the order dated 19.10.2016. The applicant (respondent) seeks a clarification to the effect that the interest at the rate of 16% p.a shall continue till the entire amount is discharged. This is, plainly, obvious; the petitioner had agreed to pay the principal with simple interest on reducing balance method and this Court had also expressly stated that the amount paid by the petitioner shall be first adjusted against the outstanding interest and then against the principal amount.

In view of the above, no further orders are required to be passed. The present application is disposed of.

Dasti.

VIBHU BAKHRU, J NOVEMBER 17, 2016 RK