RSA No.3115 of 2009(O & M) 1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH RSA No.3115 of 2009(O & M) Date of Decision:26.10.2010 Ram Kishan .... appellant Versus State Bank of India .....respondent CORAM: HON'BLE MR.JUSTICE RAKESH KUMAR GARG 1.Whether Reporters of local papers may be allowed to see the judgement? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? Present: Mr.C.B.Goel,Advocate for the appellant Mr.Atul Mahajan, Advocate for the respondent **** RAKESH KUMAR GARG J.(ORAL): This is defendant's second appeal challenging the judgment and decrees of the courts below, whereby suit of the respondent-Bank for recovery of a sum of ` 7,31,119.47 P along with interest at the rate of 16% per annum from the date of filing of the suit till realization, was decreed. At the time of motion hearing, learned counsel appearing on behalf of the appellant had confined his arguments only to the extent of rate of interest awarded by the courts below, submitting that the awarding of interest at the rate of 16% per annum, compounded quarterly, was excessive. It may also be noticed that during the pendency of this appeal, on the request of counsel for the parties, the case was adjourned to find out any possibility of settlement. However, no such settlement has been reached between the parties. RSA No.3115 of 2009(O & M) 2 I have heard learned counsel for the parties. It is not disputed that the rate of interest is being charged by the plaintiff-respondent on the basis of a contract between the parties. The argument raised by learned counsel for the appellant is squarely covered against him by a judgment of the Hon'ble Supreme Court in Central Bank of India vs.Ravindra and Ors. AIR 2001 SC 3095. Thus, I find no merit in this appeal. No substantial question of law arises. Dismissed. (RAKESH KUMAR GARG) JUDGE 26.10.2010 neenu