Interest-u-s-80-and-section-138-niact
Madhu Mittal
(Querist) 13 October 2015
This query is : Resolved
Respected Sirs of expert column of LCI,
I know that this is not a teaching forum. But Still I do not where to write whenever there is two opinions of learned advocates with one point, that is why I want guidance from the learned members of this forum:
In Court, learned advocates of same group have different opinions about a Citation whether it supports the point or not.
u/S 80 of N I Act, there is a provision of interest @ 18 per cent per annum to be calculated on the cheque amount with non obstinate clause. So it is statutory interest as also held by various High Courts.
Now in a case u/s 138 N I Act, this interest was not got given by the trial court even after case ended in conviction, revision court and High court also. Now before Supreme Court level one advocate is of the view that attached decision (decision of three judge bench of Supreme court named State of Tamil Nadu vs. Padmavathiammal (12.01.1981 - SC)) support the view that interest should be got given as statutory interest whereas the other of the view that this citation is not decided u/s 138 NI Act, so it will not support case u/s 138. Now I request to learned members of this forum to comment.
I have given the at below thread also but no answer till time :http://www.lawyersclubindia.com/forum/Interest-u-s-80-and-section-138-niact-128288.asp#.VhvSWOyqqko
Thanks with Regards,
P. Venu
(Expert) 14 October 2015
Please state your real problem, if any.
Madhu Mittal
(Querist) 14 October 2015
Respected Sir,
Real problem is if it supports, it must be mentioned in Special Leave Petition, and if it does not support, it must not be mentioned in SLP.
SAINATH DEVALLA
(Expert) 14 October 2015
Dear Mittalji,
These are UR previous queries posted on the same subject,which have been ably suggested by all the legal experts.Are these real or for academic knowledge.
Madhu Mittal
(Querist) 14 October 2015
Respected Sir sainath devala and others sirs,
I already post that the thread name, I posted this query, but these were not solved yet, so I had to write here in expert column, because I have seen by my experience that some learned member normally reply only on this expert column and very rarely reply on general column, this is real problem. Some time ago, I have asked some lawyer which can make SLP at Supreme Court. So this is the real problem. Please guide.
T. Kalaiselvan, Advocate
(Expert) 16 October 2015
Go through the provisions of section 138 N Act for inclusion of interest portion properly because there is no provision as per that section.
Madhu Mittal
(Querist) 17 October 2015
Respected Sir T kalaiselvanji,
let us know, then how Magistrate sir decide what should be the compensation as per law?I am enclosing the decision of Smt. Bhavani hc karnataka div bench for ready reference, please let us know whether it was decided wrongly ? Any other decision/material how to decide the compensation in a case u/s 138 ? Here is no place for attachment, so I am attaching it at this thread::http://www.lawyersclubindia.com/forum/Interest-u-s-80-and-section-138-niact-128288.asp#.VhvSWOyqqko
Thanks with Regards,
