/ 1 / IN THE HIGH COURT OF JUDICATURE AT MADRAS (ORDINARY ORIGINAL CIVIL JURISDICTION) MONDAY, THE 30th DAY OF OCTOBER 2009 THE HON'BLE MRS. JUSTICE ARUNA JAGADEESAN C.S. No.1542 of 1988 Asian Paints (India) Ltd.,* registered office at East Coast Chambers, 92, G.N.Chetty Road, T.Nagar, Madras-600 017. factory at B5 to B 10, SIPCOT Industrial Complex, Kudikadu, Cuddalore-607 003. ... Plaintiff *Amended as per the A. No.613 of 2001 order dated 09.02.2001 and also delay condoned in A. No.4551 of 2002 order dated 07.11.2002 -Versus- 1. The Official Liquidator of High Court, Andhra Pradesh at Hyderabad,** Liquidator of Vaishu Engineering Industries Ltd., (in liquidation) registered office at 341, Chandralok Complex, Sarojini Devi Road, Secunderabad-500 003. 2. State Bank of India, Bible House Branch, Secunderabad-3. ... Defendants **Amended as per order dated 27.11.2002 in A. No.4919 of 2002. Civil Suit praying that this Hon'ble Court be pleased to pass a Decree and Judgement against the defendants:- a) for Rs.27,56,719/- in the following manner:- (i) for a sum of Rs.15,00,000/- with further interest at 21% p.a. as Rs.15,00,000/- from date of plaint till realisation jointly and severally against Defendants No.1 and 2; (ii) for a sum of Rs.12,56,719/- with further interest at 21% p.a. as Rs.12,56,719/- from date of plaint till realisation from the first defendant. https://hcservices.ecourts.gov.in/hcservices/ / 2 / b) for costs of the suit. This suit coming on this day before this court 'for being mentioned' in the presence of Mr.M.Vijayan for M/s.King and Patridge, advocate for the plaintiff herein, and Mr.P.Sukumar, advocate for the 2nd defendant herein and upon reading the plaint and the memo of the 2nd defendant filed herein, and Mr.P.Sukumar, the learned counsel for the 2nd defendant having submitted that the interest levied at 21% p.a. has to be reconsidered in the light of the relief claimed by the plaintiff who claimed interest only at the Bank rate and the bank rate of interest from 1988 till this date varies at different levels and therefore, prayed this Court to fix the rate of interest at 7.5% p.a. which has also been agreed by the plaintiff and also filed a memo dated 30.10.2009 to that effect more fully set out in the schedule hereunder and this Court doth recording the same, it is ordered and decreed as follows:- That the 2nd defendant herein, do pay to the plaintiff herein a sum of Rs.38,13,647.26/- (Rupees thirty eight lakhs, thirteen thousand, six hundred and forty seven and paise twenty six only) in full quit of the suit claim. 2. That there shall be no order as to costs of this suit. 3. That the decree dated 26.06.2009 made in C.S. No.1542 of 1988 be and is hereby modified to the extent mentioned in clause (1) and (2) supra. 4. That in all other respects, the judgement dated 26.06.2009 shall stand unaltered. https://hcservices.ecourts.gov.in/hcservices/ / 3 / KLY 08.12.2009 C.S. No.1542 of 1988 DECREE DATED: 30.10.2009 THE HON'BLE MRS. JUSTICE ARUNA JAGADEESAN FOR APPROVAL:10/12/2009 APPROVED ON:10/12/2009 https://hcservices.ecourts.gov.in/hcservices/