Calculate interest pendente lite– The High Court Division correctly identified the rates of interest that should have been used in calculating the total sum due, but fell into error in not allowing interest for the period from the date of the decree till filing of the amended plaint.
The Appellate Division is of the view that the direction given by the High Court Division to calculate interest pendente lite from 20.01.2013 is erroneous. The interest pendente lite is to be calculated in accordance with the rates applicable at the relevant times after the filing of the suit on 30.07.2008. According to section 50(2) of the Ain the judgement debtor will be liable to interest at the increased rate for bringing the matter to the High Court Division by way of Writ Petition No. 8843 of 2014 in spite of the fact that the incorrectly claimed rate of interest in Artha Zari Case No. 118 of 2014 had been amended by an application filed on 28.08.2014. The civil petition for leave to appeal is disposed of. ...Premier Bank Limited =VS= Mampower Ltd., Dhaka, (Civil), 2021(1) [10 LM (AD) 319] ....View Full Judgment