Regular Second Appeal No. 2068 of 2010(O&M) -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH Regular Second Appeal No. 2068 of 2010(O&M) Date of decision : May 16, 2011 Rakesh Kumar ....Appellant versus Punjab Financial Corporation and another ....Respondents Coram: Hon'ble Mr. Justice L.N. Mittal Present : Mr. Vikas Mehsempuri, Advocate, for the appellant L.N. Mittal, J. (Oral) CM No. 6327.C of 2010 Allowed as prayed for. CM No. 6328.C of 2010 For reasons mentioned in the application which is accompanied by affidavit, delay of 7 days in filing the appeal is condoned. RSA No. 2068 of 2010 Rakesh Kumar plaintiff has filed the instant second appeal. Plaintiff-appellant had taken loan of Rs 47,000/- from defendants (Punjab Financial Corporation i.e. PFC). The plaintiff repaid the same by installments. He had deposited Rs 5000/- vide draft dated Regular Second Appeal No. 2068 of 2010(O&M) -2- 30.4.1996 and Rs 6000/- vide draft dated 6.8.1997 with the defendants but they credited the said total amount of Rs 11,000/- in the account of some body else instead of crediting it in the account of the plaintiff. Accordingly, the plaintiff was made to pay the said amount of Rs 11,000/- for the second time. When this mistake was realised, the defendants repaid the said amount of Rs 11,000/- to the plaintiff vide cheque dated 11.9.2000 but the defendants did not pay any interest on the said amount. Accordingly, the plaintiff filed suit claiming Rs 12,900/- as interest on the aforesaid amount of Rs 11,000/- @ 18% per annum along with further interest at the same rate. Defendants did not broadly dispute the factual position but pleaded that the defendants had waived off interest amount of Rs 19078/- which was payable by the plaintiff on the loan amount of the defendants. Various other pleas were also raised. Learned Civil Judge (Senior Division), Barnala vide judgment and decree dated 24.2.2009 partly decreed the plaintiff's suit for recovery of interest amount @ 18% per annum on amount of Rs 11,000/- with effect from 10.9.1999 till recovery. Both the parties preferred separate first appeals against judgment and decree of the trial court. Learned Additional District Judge, Barnala vide common judgment and decrees dated 5.8.2009 partly allowed both the appeals. Rate of interest was reduced from 18% to 10% but the period of interest was increased from date of payment i.e. Rs 5000/- with effect from 30.4.1996 and Rs 6000/- with effect from 6.8.1997 till the said amount had been repaid. Feeling aggrieved, the plaintiff has Regular Second Appeal No. 2068 of 2010(O&M) -3- filed the instant second appeal. I have heard learned counsel for the appellant and perused the case file. Learned counsel for the appellant vehemently contended that interest @ 10% as awarded by the lower appellate court is highly inadequate. The contention cannot be accepted. Defendants had advanced loan to the plaintiff on which interest was payable by the plaintiff @ 9.25% per annum only. Consequently, interest @ 10% awarded to the plaintiff which is higher than the interest rate payable by the plaintiff himself on the loan of the defendants cannot be said to be inadequate. In addition to it, the defendant had also waived their interest amount of Rs 19078/- which was payable by the plaintiff. For the reasons aforesaid, I find no infirmity much less illegality or perversity in the judgment of the lower appellate court so as to warrant interference in second appeal. No question of law much less substantial question of law arises for determination in the instant second appeal. The appeal lacks any merit and is accordingly dismissed in limine. ( L.N. Mittal ) May 16, 2011 Judge 'dalbir'