STATE BANK OF INDIA Vs. SARATHI TEXTILES
SUPREME COURT OF INDIA
STATE BANK OF INDIA
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(1.)Pursuant to the earlier order dated 5-8-2002 the learned counsel appearing for the respondents on instructions, states that the respondent is willing to pay interest @ 12% per annum in settlement of the dispute in issue. While, therefore, keeping the points of law open, this petition is disposed of with a direction that the respondent would pay simple interest @ 12% per annum, within eight weeks from today. On the payment in question, the title deed will be returned. The special leave petition accordingly stands disposed of. Special Leave Petition No. 9298 of 2000
(2.)The order of reference does not indicate as to why this petition has been referred to the Constitution Bench.
(3.)The learned Solicitor General appearing for the petitioner Bank advanced before us serious arguments on the interpretation of Order 34 Rules 2, 3, 4 and 11 and argued as to the discretion of the Court in the matter of grant of interest and how the same should be interpreted notwithstanding the fact that there are several earlier decisions of this Court including the decision in Soli Pestonji Majoo v. Gangadhar Khomkal, 1969 1 SCC 220.
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