Interest on decretal amount does not stop on deposit of decretal amount in court in appeal
) The fact of a judgment-debtor's depositing a sum in court to purchase peace by way of stay of execution of the decree on terms that the decree-holder can draw it out on furnishing security, does not pass title to the money to the decree-holder. He can if he likes take the money out in terms of the & her; but so long as he does not do so, there is nothing to prevent the judgment debtor from taking if out by furnishing other security, say, of immovable property, if the court allows it and on his losing the appeal putting the decretal amount in court in terms of Order 21 rule 1 C.P.C. in satisfaction of the decree. [373 A, B] The real effect of the deposit of money in court as was done in this case was to put the money beyond the reach of the parties pending the disposal of the appeal. The decree- ,holder could only take it out on furnishing security which means that the payment wag not in satisfaction of the decree and such security could be proceeded against by the judgment debtor in case of his success in the appeal. Pending the determination of the same, it was beyond the reach of the judgment debtor.
Supreme Court of India
