Report No. 55
Rate of Interest for The Period After Decree and Interest on Costs Under Sections 34 and 35, Code of Civil Procedure, 1908.
1. Genesis of the Report.-
This Report deals with three short points which we have taken up in the following circumstances:-
In March 1973, the Bombay Bar Association submitted before us, during our oral discussions with them1 on the Structure and Jurisdiction of the Higher Judiciary, the need for amending section 34 of the Code of Civil Procedure, on the point of rate of interest which the court can award for the period after the decree.
1 Discussions with the Bombay Bar Association on the question of Structure and Jurisdiction of the Higher Judiciary (34 March, 1973).
2. As this point was brought to our notice after we made our Report on the Code of Civil Procedure1 we could not deal with it in that Report. As the point appeared to us to require serious consideration, we have considered it proper to deal with it in this Report. We have also considered it desirable to examine the connected question of interest on costs, and interest on the aggregate.
1 54th Report (Code of Civil Procedure, 1908) (February, 1973).