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PETITIONER: CENTRAL BANK OF INDIA

       Vs.

RESPONDENT: RAVINDRA & ORS.

DATE OF JUDGMENT07/05/1995

BENCH: K. RAMASWAMY, FAIZAN UDDIN, G.B. PATTANAIKWITHSPECIAL LEAVE PETITION (C) NOS. 3954/94, 9082  AND 9088/1995ANDCIVIL APPEAL NOS. 3964, 3967 OF 1992

ACT:

HEADNOTE:

JUDGMENT:                          O R D E R      After  hearing  learned  Attorney  General  and  amicus curaie S/shri  A. Subba Rao, Ranjit Kumar and K.M.K. Nair on (the interpretation  of the provisions of Section 34, CPC on "the principal  sum adjudged"  the matter  s required  to be considered by  a Constitution  Bench.   The learned Attorney General has  drawn our  attention to  the judgments  of this Court in Corporation Bank vs. D.S. Gouda & Ors.  [(1994) SCC 213] and  Bank of  Baroda vs.  Jagannath  [C.A.  No.2785/87] decided on  September 21, 1994 wherein he sought to draw the deduction that  the principal sum adjudged and the principal sum mentioned  later would  be the  same.   he seeks to take support from  the word  "such" in support of his contention. Preceding  Amendment   Act  66   of  1956,  the  words  were "aggregate  sum  so  adjudged"  and  after  Amendment,  were substituted with  the words  "the principal  sum  adjudged", from the  date of  the suit  to the  date of  the decree, in addition to  any interest  adjudged on  such "principal sum" for any  period prior  to the  institution of the suit (with further interest  on such date as the court deems reasonable on the  "principal sum").   The  distinction, therefore, was not drawn  to the  attention of  this Court in the aforesaid two judgments  in particular  later  one.    As  a  fact  no argument in  this behalf  appears to  have  been  canvassed. Interpretation of  the liability  of  the  borrower  to  pay interest on  the principal  sum  to  include  interest  that became merged  with the  principal sum adjudged or principal sum as  lent, is required to be authoritatively laid down by a Bench of five Judges.      The Registry  is directed  to place  the matter  before Hon’ble Chief  Justice  for  constituting  the  Constitution Bench.