The Right Of The Party And Its Entitlement To Monetary Claims On Profits Not Allowed To Be Affected By Plea Of Limitation – Says Supreme Court In The Case Of Rockline Construction Company Vs Doha Bank Qsc & Ors.

What is the case about? 

The Miscellaneous Application is filed by the appellant to seek clarification for the order and judgement of SC dated 12.05.2022 wherein the court upheld the judgement passed by the High Court of Bombay.

The HC in its judgement upheld the decision of the Debt Recovery Appellate Tribunal for setting aside the sale of property.

The auction sale which was confirmed by the appellant was set aside and the appellant was made entitled to a refund of entire sale amount along with the interest at the rare  9%per annum.

The appellant claimed to be entitled with interest at the rate 14.5% per annum which was the market price.

Question before the court 

• The rate and terms of interest at which the appellant is entitled.
• Determination of mesne profits

Observation of the Court 

The court held that the appellant was undisputed entitled to interest.

Court held that the adjudication of the issues regarding the interest must be adjudicated by the concerned tribunal as it has been looking into the matter since the series of litigation began.

Court observed that appellant’s right and entitlement of monetary claims on profit shall not be affected due to plea of limitation.