IN THE HIGH COURT OF JUDICATURE OF ANDHRA PRADESH : HYDERABAD FRIDAY, THE FIRST (1ST) DAY OF OCTOBER, TWO THOUSAND AND TEN Present: HON’BLE SRI JUSTICE SRI G.V.SEETHAPATHY A.S.No.1251 of 1994 Between: Andhra Bank, rep. by its Manager, Karimnagar … Appellant And: Tadasina Venugopal Reddy & others … Respondents HON’BLE SRI JUSTICE SRI G.V.SEETHAPATHY A.S.No.1251 of 1994 JUDGMENT: This appeal is directed against the decree and judgment dated 07.04.1993 in OS No.201 of 1988 on the file of the Subordinate Judge, Karimanagar, wherein, the suit filed by the plaintiff for recovery of a sum of Rs.66,703.72 due under a mortgage, was decreed granting a preliminary decree. 2. Heard the learned counsel for the appellant. None appears for the respondents 1,3 and 4, though served with notice. It is stated that the 2nd respondent died and his legal representatives, 3rd and 4th respondents are already on record. Perused the record. 3. Appellant/plaintiff filed suit on the foot of a mortgage for recovery of Rs.66,703.72. While decreeing the suit, the trial Court granted future interest at 6% per annum from the date of the suit, till the date of realization on the principal amount. 4. Order XXXIV Rule 11 CPC states that the Court may order payment of interest to the mortgagee up to the date of redemption on the amount which is found or declared due on the mortgage at the rate payable on the principal, or where no such rate is fixed, at such rate as the Court deems reasonable. 5. In the present case, the stipulated rate of interest is 12% per annum. Hence, in pursuance of the provisions contained in Order XXXIV Rule 11 of CPC, the trial Court ought to have granted future interest from the date of suit, till the date of redemption at the contract rate at 12% per annum, instead of 6% per annum. The trial Court granted time for redemption six months. 6. In the circumstances, the judgment and decree passed by the trial Court are modified to the effect that the future interest on the amount found due is payable by the respondents at the rate of 12% per annum from the date of suit, till the date of redemption and thereafter at the rate of 6% per annum, till the date of realization. 7. In the result, the appeal is allowed accordingly as stated above. No order as to costs. ___________________ G.V.SEETHAPATHY, J Date: 01.10.2010 bss