INDIAN BANK Vs. MANILAL GOVINDJI KHONA

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO.1416 OF 2015

(Arising Out of SLP (C) No. 12513 of 2013)

INDIAN BANK ………APPELLANT

Vs.

MANILAL GOVINDJI KHONA ………RESPONDENT

A Civil Suit No. 2636 of 1987 was filed by the appellant-Bank before the High Court of Judicature at Bombay against the respondent on 07.09.1987 for recovery of Rs.69,50,213.59 with interest @ 18.5%p.a. with quarterly rests and enforcement of the mortgage. The High Court vide its order dated 09.12.1996 passed a consent decree in the Civil Suit for the suit amount together with concessional rate of interest at 12% p.a. which was to be paid by the respondent to the Bank on or before 31.05.1997. On 31.05.1997, the respondent tendered the amount in terms of the decree dated 09.12.1996,which was refused by the appellant. The respondent moved Chamber Summons No.1066 of 1997, inter alia,for recording the payment of decreetal amount tendered on 31.05.1997. On 01.08.1997, the respondent applied for ad interim relief in terms of the above Chamber Summons. However, by the order dated 01.08.1997, the High Court was pleased to decline to grant ad interim relief but adjourned the said Chamber Summons for recording evidence to establish the fact that the respondent had tendered the payment of the decreetal amount on or before 31.05.1997. Being aggrieved by the same, the respondent preferred Appeal No.960 of 1997 before the Division Bench of the High Court. By an order dated 05.12.1997, the said appeal was dismissed andthe S.L.P filed by the respondent was also dismissed by this Court on 23.03.1998….read more