What is the interest rate if court settled the case
Querist :
Anonymous
(Querist) 20 August 2018
This query is : Resolved
Dear sir,
My father takes some 2 lakhs of loan with prommisory note from one person.My father is farmer and illeterate.Due to no income in farming lands he is unable to pay within the stipulated time.But the person who gived the loan is filed a case in court with prommisory notes.Now this is 15th year running.The land is decreed by court.But we are not allowing them to do that and we filed a petition to stop.
Now I need clarity information on below things..
1.I am doing job now I have sources and I am ready to pay the amount which they given to us.
2.In the above case How much I have to pay to the person with interest (or) without interest.
3.As per the court rules how much will be the interest?
My family is facing lot of problems from this.
I hope you people understand my issue.
Kindly please help me any one..
P. Venu
(Expert) 21 August 2018
Has the decree holder filed an execution petition? Does the decree/judgment specify any rate of interest?
