AIR 2005 SUPREME COURT 94 ::2004 AIR SCW 6316 ::2004 CLC 1552 (SC) ::2004 (4) Com LJ 452 SC ::(2004) 4 ComLJ 452 ::(2004) 24 IndLD 132 ::(2005) 2 GCD 1001 (SC) ::2005 (1) UJ (SC) 248 ::2004 (8) SCC 348 ::(2004) 9 Scale 74 ::2005 (1) All CJ 459 ::(2005) 1 BankCas 53 ::(2004) 57 All LR 701 ::2005 (2) Bom CR 791 ::2005 (126) Com Cas 350 ::2004 (4) LRI 789 ::2004 (6) SLT 569 ::(2004) 7 Supreme 735 ::(2004) 24 AllIndCas 583 (SC)

Supreme Court Of India

(From : Bombay)*

Hon'ble Judge(s): R. C. Lahoti, Ashok Bhan , JJ

Civil P.C. (5 of 1908) , S.34, S.144— Restitution - Money decree - Rate of interest - Special Court decreed suit filed by Standard Chartered Bank (SCB) against Citibank with interest @ 20% p.a. - Another suit filed back to back by Citibank against Canbank Financial Services Ltd. (CANFINA) was decreed with interest @ 9% p.a. - Appeal against both - Allowed by Supreme Court - Citibank was held entitled to restitution/refund of total amount, it had paid to SCB with interest @ 12% p.a. and CANFINA held entitled to refund with interest @ 9% p.a. - Clarification of order sought by SCB on ground of different rate of interest awarded in two suits of restitution of monies - Variation of rate of interest ordered in two appeals was keeping in view rate at which interest was allowed by special Courts in two suits - Contention of SCB that Citibank was unjustly enriched by payment @page-SC95of interest at higher rate of 3% p.a. misplaced - Comparison of rate of interest in two suits, is wholly irrelevant - Order of Supreme Court needs no clarification. (Para 12 13)