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| DB modifies judgement in compensation case | | | Early Times Report
Jammu, Feb-25 (JNF):- A Division Bench of the High Court comprising Chief Justice Dr. Aftab H Saikia and Justice Mansoor Ahmed Mir in a case of compensation has modified the judgment of Single Judge by reducing the rate of interest from 12% to 6%.
The appeal filed by the State against the judgment and decree passed by Single Judge on February 10, 2003 whereby the State was directed to pay an amount of Rs 5,04, 000/- compensations with costs and interest @ 12 percent per annum from the date filling of suit. Counsel for the state has stated at the bar they have deposited an amount of 2.50 lacs and same stands released in favour of the respondents.
The court observed that the settlement arrived between the parties and in the interests of the parties, accordingly, DB inclined to modify the impugned judgment by reducing the rate of interest from 12% to 6% per annum payable from March 20, 2001 till its final realization. DB also clarified that 6% interest is payable on amount of Rs 5.04 lacs from March 20, 2001 till June 28, 2004 and 6% interest only on amount of Rs 2.54 lacs from June 28, 2004 till its realizations with cost and disposed of this appeal
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