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Section 34 CPC What is Interest Under Judgment and Decree

Section 34 CPC What is Interest Under Judgment and Decree

Section 34 CPC and as per Lawkidunya, the word Interest Under Judgment and Decree means, Interest is the compensation allowed by law or fixed by the parties for the use or forbearance or detention of mone. Payments a borrower pays a lender for the use of the money.” “Simple Interest”. That which is paid for the principal or sum lent, at a certain rate or allowance made by law or agreement of parties.

What is Interest Under Judgment and Decree

Section 34 CPC defines, Interest Where and in so far as a decree is for the payment of money, the Court may, in the decree, order interest at such rate as the Court deems reasonable to be paid on 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 at such rate as the Court deems reasonable on the aggregate sum so adjudged, from the date of the decree to the date of payment, or to such earlier date as the Court thinks fit.
(2) Where such a decree is silent with respect to the payment of further interest on such aggregate sum as aforesaid from the date of the decree to the date of payment or other earlier date, the Court shall be deemed to have refused such interest, and a separate suit therefore shall not lie.

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