Supreme Court of India · 2016-03-03
Amarjeet Jolly & Anr vs Corporation Bank
- Citation / case number
- AIRONLINE 2016 SC 100
- Court
- Supreme Court of India
- Petitioner
- Amarjeet Jolly & Anr
- Respondent
- Corporation Bank
- Bench
- Rohinton Fali Nariman, Kurian Joseph
Judgment text excerpt
The Supreme Court upheld the High Court's decree for recovery of US $18576.91 with interest at 16.5% per annum, but modified the terms of payment to a mutually agreed settlement. The appellants will pay the decreed amount at a conversion rate of Rs. 15.60 per Dollar with 9% interest from 17.07.1989, to be deposited within 9 months. The court clarified that failure to deposit the amount would result in automatic dismissal of the appeal.