R. S. A No. 4357 of 2006 1 In the High Court of Punjab & Haryana at Chandigarh R. S. A No. 4357 of 2006 (O&M) Date of decision : 15.9.2008 Mohinder Singh ..... Appellant vs M/s Dharam Pal Shiv Kumar ..... Respondent Coram: Hon'ble Mr. Justice Rajesh Bindal Present: Mr. A. P. Bhandari, Advocate, for the appellant. Mr. Rajinder Goyal, Advocate, for the respondent. Rajesh Bindal J. The appellant/defendant is in Regular Second Appeal before this court against the concurrent finding of fact recorded by both the courts below whereby the suit filed by the respondent/plaintiff for recovery of Rs. 59,530/- was decreed along with future interest @ of 6% per annum from the date of filing of the suit till realisation thereof. Briefly, the facts are that the respondent/plaintiff filed a suit for recovery of Rs. 33,000/- on account of principal and Rs. 26,530/- on account of interest @ of 18% per annum. The learned trial court decreed the suit of the respondent/plaintiff along with interest @ of 6% per annum from the date of filing of the suit till realisation thereof. In appeal before the learned court below, the appellant/defendant failed. The only contention raised by the appellant is that in the absence of agreed terms on record to the extent that the interest on the loan raised by the appellant was to be charged @ of 18% per annum, the respondent/plaintiff was not entitled to charge the same at that rate. A perusal of the judgments of the courts below shows that for the purpose of rate of interest, reliance has been placed on the testimony of PW2 Madan Lal who stated that the normal rate of interest in the market of such type of transaction was 18% per annum and accordingly the appellant/defendant was liable to pay the same rate. It was on this basis that the learned court below accepted the claim of the respondent/plaintiff with interest @ of 18% per annum upto the date of the filing of the suit as well. R. S. A No. 4357 of 2006 2 Keeping in view the fact that the appellant in the present case is a senior citizen and the loan having been raised for agriculture purpose, as a matter of indulgence and concession, I reduce the rate of interest claimed by the respondent/plaintiff on the principal amount of Rs. 33,000/- advanced by him @ of 6% per annum as against 18% charged by him. It is made clear that this concession shall be available to the appellant in case the amount due from him is paid to the respondent/plaintiff on or before 31.12.2008 along with interest upto date, otherwise the appeal shall be deemed to have been dismissed. The appeal is accordingly disposed of. 15.9.2008 ( Rajesh Bindal) vs. Judge