Navin Chawla, J. - (1.) This application filed by the judgment debtor was listed on 9th November, 2017, when the arguments were heard in part. The decree holder, who was present on advance notice has also been heard in opposition of the application.
(2.) The judgment debtor by way of the present application, filed under section 47 of the Code of Civil Procedure, 1908 (hereinafter referred to as 'CPC') has prayed for a determination as to whether the decree holder is entitled to interest @ 14% per annum (simple interest) or Interest compounded annually.
(3.) It is further contended that though no averment with respect to the calculation of the interest have been made in the application nor any objection have been filed to the calculation filed by the decree holder on 23rd October, 2017, in terms of order dated 8th September, 2016 passed by this Court in OMP(I)(COMM) 341/2016, the judgment debtor had deposited a sum of Rs. 2 crores with the Registrar of this Court on 4th October, 2016. It is submitted that in terms of Order 21 Rule (1)(4) of the CPC no further interest would, therefore, be payable on this amount of Rs. 2 crores and such interest shall cease to run.;