Ajit Kumar Sengupta, J. - (1.) This suit was instituted by the United Bank of India in 1986, inter alia, claiming a decree for Rs. 67,11,944.09p. against the defendant Nos. 1 to 7, declaration of charge on the movable assets and I decree for sale etc. In the said suit an interlocutory application has I also been made, inter alia, praying for appointment of Receiver and other reliefs.
(2.) Mr. P. K. Mullick learned Counsel appearing with Mr. Nirmal Mitra Advocate for the defendants has submitted that the defendants are willing to submits a decree without raising any controversy as to the quantum of interest charged by the Plaintiff bank upto the date of the suit. However, the learned Counsel has submitted that the Court should award interim interest and interest on judgment not at the contractual rate, but at such rate as the Court may deem fit and proper on the facts of this case. He has also submitted that the defendants should be allowed reasonable monthly instalments for payment of the decretal dues.
(3.) The two contentions which call for consideration are firstly, whether the Court has any discretion in the matter of awarding interim interest and interest on judgment and secondly whether this Court has any jurisdiction to grant instalment to the judgment debtor to pay off the amount decreed.;