Report No. 63
On the authority of these texts of Narada and Katyayana, Vijnaneshwara, the.author of the Mitakshara, had deduced the rule that in cases of absence of a stipulation for interest, interest will be payable from the date of demand.1The gloss of Vijnaneshwara, which is material for the point now under discussion, is as follows:
"Again, as to him, who, even residing in his own country, does not pay the debt, though it has been demanded, the King shall cause interest to be paid by him from the date of demands."2
1. Mitakshara, under Y. II, 39.
2. Saundanappa v. Shivabasappa, 1907 ILR 31 Born 354 (360 to 363).