Civil Procedure Code, 1908, Order 34, Rule 11 -- Equitable mortgage - Suit by Bank for recovery of loan - Interest - It is no longer obligatory to award contractual rate after date of suit and upto date fixed for redemption or upto date of realisation or actual payment - Sections 21, 35 and 21-A of Banking Regulation Act, 1949 do not affect O.34.R.11 CPC - Discretionary..........
Civil Procedure Code, Section 34 -- Order 34 Rule 11 deals with mortgage suits and payment of interest - To mortgage suit special provisions in Order 34 Rule 11 alone applicable and not Section 34...........
Civil Procedure Code, 1908, Order 34, Rule 11(b) -- Pendente lite and future interest - At rate below contractual rate - Where Court has awarded interest at 6% p.a. on bank loan, in exercise of its discretionary power, the award cannot be interfered in appeal merely because rate of interest awarded is below contractual rate...........
Civil Procedure Code, 1908, Order 34, Rule 5 -- Mortgage - Suit for foreclosure - Final decree - Appellant purchaser of property in mortgage decree - Respondents purchased same property in execution of money decree which was obtained against mortgagor - Held, respondent is entitled to make application U.O.34.R.5 CPC...........
Civil Procedure Code, 1908, Order 34, Rule 5, Civil Procedure Code, 1908, Order 21, Rule 92 -- Mortgage - Suit for foreclosure - Final decree - Appellant purchaser of property in mortgage decree - Respondents purchased same property in execution of money decree which was obtained against mortgagor - Application U.O.34.R.5 by respondent - Procedure prescribed U.O.21.R.92..........
Civil Procedure Code, 1908, Order 34, Rule 7 -- Usufructuary mortgage - Redemption - Court failing to mention period for payment of redemption money - Held, the redemption money was payable within statutory period of six months unless extended by the Court - Appellant when in error in reading the terms of the decree so he must suffer for his neglect - Appeal dismissed...........
Civil Procedure Code, 1908, Order 34, Rule 7 -- Redemption of usufrcutruary mortgage - Extension of time to deposit redemption amount on the plea that decree was incomplete - Decree directing appellant to deposit Rs.18, 000/- and would be entitled to mesne profits at Rs.200/- per month till possession is delivered - If Court omitted to mention time for payment under..........
Civil Procedure Code, 1908, Section 34, Order 34, Rule 2,11 -- Loan for tractor by mortgaging agricultural land - It is not a loan for agricultural purpose only - Provisions of S.34 not applicable - Interest is chargeable under O.34.R.11 - It is a commercial loan and bank is entitled to claim compound interest at the rate of interest prescribed in the contract - Contract..........
Civil Procedure Code, 1908, Order 34 -- Suit by Bank for realisation of amount by way of sale of mortgaged/hypothecated property - Trial Court cannot give a money decree alone - Bank is entitled to realise &the interest on the contractual rate and the amount of interest debited to the borrower also becomes the principal amount...........
Civil Procedure Code, 1908, Section 142, Order 34, Rule 7, 8 -- Suit for redemption - Preliminary decree - Omission to mention that suit was for redemption and decree was to be drawn in terms of O.34.R.7 - Accidental slip purely formal and technical - Court can correct it any time either on application or on its own motion...........
