Order 34 Rule 11 CPC: Payment of interest.

Order 34 Rule 11 CPC: Payment of interest.

Payment of interest. – In any decree passed in a suit for foreclosure, sale or redemption, where interest is legally recoverable, the Court may order payment of interest to the mortgagee as follows, namely:-
(a) interest up to the date on or before which payment of the amount found or declared due is under the preliminary decree to be made by the mortgagor or other person redeeming the mortgage-

(i) on the principal amount found or declared due on the mortgage,-at the rate payable on the principal, or, where such rate at the Court deems reasonable and,

(iii) on the amount adjudged due to the mortgagee for costs, charges and expenses properly incurred by the mortgagee in respect of the mortgagee-security up to the date of the preliminary decree and added to the mortgage-money,-at the rate agreed between the parties, or, failing such rate, at such rate not exceeding six per cent, per annum as the Court deems reasonable; and

(b) subsequent interest up to the date of realisation or actual payment on the aggregate of the principal sums specified in clause (a) as calculated in accordance with that clause at the such rate as the Court deems reasonable.

 

 

About us:

Verma Law Associates is an offspring of Advocate Anoop Verma and other experienced Advocates/Lawyers.

Advocate Anoop Verma has been advising individuals, corporates, businesses on a variety of legal issues since his call to the Punjab & Haryana Bar Council.

After gaining years of experience working for law firms, Advocate Anoop Verma opened his own Law firm “Verma Law Associates” where he is able to provide quality legal services at reasonable rates.

During his career, he has been involved in some of the most complicated and high profile cases, and participated in several ground-breaking litigation cases. Having been trained and mentored by some of best lawyers, he brings a unique perspective and varied experience to his practice.

We at Verma Law Associates handles all the cases pertaining to:

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Advocate Anoop Verma

Punjab & Haryana High Court Chandigarh, DRT Chandigarh

Email: advanoopverma@gmail.com

 

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