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S S ravi (service)     04 July 2012

Interest amount more than principal amount.

Co.Op.Bank in Maharashtra filled suit in Co.Op.Court for recovery of loan amount of Rs. 1 Lakh some 18 years ago. Now the judgment in the matter is expected in with 1-2 weeks. Bank officials are expecting court verdict as 7 Lakhs interest on principal amount of Rs. 1 Lakh. I request for members opinion whether court can order for 7 times more interest amount than principal amount. Whether Damdupat is applicable in this matter.



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