ASOK KUMAR GANGULY, J. - (1.)As the matter was heard at length before this Court, with the consent of parties, we treated the appeal on the days list and we dispose of this appeal by this Judgment.
(2.)In this case, the appeal arises out of the order dated 8-8-2002 passed by a learned Judge of the First Court taking interlocutory business and, by the order under appeal, the learned Judge passed a de cree for the principal sum of Rs. 20 lacs and further passed a decree for interim interest at the rate of 20% per annum on the principal sum to be calculated from 1-8-1995 till the date of the filing of the suit. The learned Judge also granted interim interest and interest on Judgment at the aforesaid rate of 20%. The learned Judge further held that the rest of the claim shall be tried after the filing of the Written Statement and trial shall be held unconditionally. Certain directions for expeditious hearing of the suit were also given.
(3.)The facts of the case are that the respondent granted inter-corporate loan to the appellant for a sum of Rs. 20 lacs, which was to be repaid with interest at the rate of 30% on the expiry of 90 days. Upon the expiry of 90 days, two cheques amounting to Rs. 20 lacs for the principal amount and Rs. 1,17,715/- on account of interest were issued. But on presentation, the cheque for the principal amount was dishonoured. Proceedings under Negotiable Instruments Act were initiated and are pending. The cheque for the interest amount was honoured.
;