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Judgment
,,,Amount (Rs)
,,,6181679.45
Total value of the stocks as per Trading Account,,,
Less: Saves Stock at Other Locations:,,,
(i),"At 61A, Cycle Market,
Jhandewalan Extn, New Delhi",1051924.08,
(ii),"At 61A, Cycle Market,
Jhandewalan Extn, New Delhi",100798.55,
(iii),"At 62B, Cycle Market,
Jhandewalan Extn, New Delhi",482551.22,
(iv),"At 77B, Cycle Market,
Jhandewalan Extn, New Delhi",247840.00,
(v),"At 76B, Cycle Market,
Jhandewalan Extn, New Delhi",492891.15,
(vi),"At 76A, Cycle Market,
Jhandewalan Extn, New Delhi",13466.76,
(vii),"At WZ-431, Madipur, N. Delhi.",107250.00,"3403909.76
.................
Value of Stock WZ-442 (GF, FF & SF), Madipur,
N. Delhi",,,2777769.69
Less Stock at affected but uncovered locations,,,
(viii),"At WZ-442, (GF), Madipur,Â
New
Delhi",,"2197329.22
.................
,,,580440.47
,"At WZ-442 (FF)
30% of Stock at WZ-442 (FF & SF)
Madipur, New Delhi",,"174132.14
.................
,"Net Value of stock at WZ-442(SF)
Madipur, N.D",,406308.33
,Less: Cost of Deed & Obsolete stock @ 5%,,"20315.42
…………..
,"Value of the stocks of M/s. MMD Enterprises at
2nd Floor, WZ-442, Madipur, New Delhi",,385992.91
,Less: Salvage @ 2% (Lump Sum),,"7719.86
…………
,Net Assessed Loss with VAT,,378273.05
,Less; VAT @ 4%,,"14549.00
…………..
,,,363724.05
,Less: Policy Deductible,,"10000.00
………….
,Net Assessed Loss with VAT,,"353724.05
………….
,"Or, Say Rs.353,724/-",,
4(ii). Accordingly, I reduce the rate of interest granted by the trial court, for pendente lite and future period till payment, to 9% per annum simple",,,
instead of 18% per annum simple granted by the trial court.,,,
The appellant/defendant had deposited the entire decretal amount in this Court which is lying in a fixed deposit. The Registry of this Court will now,,,
calculate the decretal amount being Rs. 3,53,724/-with interest thereon at 9% per annum from 16.03.2011 till the amount was deposited in this Court",,,
as this amount is the liability of the appellant/defendant to the respondent/plaintiff under this judgment. On this amount, so determined, whatever",,,
interest has accrued as the same is lying in a fixed deposit, such accrued interest will be the entitlement of the respondents/plaintiffs. The balance",,,
amount existing, beyond this amount of Rs. 3,53,724/- along-with interest @ 9% per annum simple till the date of deposit in this court, will be refunded",,,
back to the appellant/defendant along-with interest accrued thereon i.e. it is clarified that whatever amount is now due and payable to the,,,
appellant/defendant since the same is deposited in this Court and earning interest, the interest accrued on this balance amount repayable to the",,,
appellant/defendant, will be paid to the appellant/defendant.",,,
In view of the aforesaid discussion, the appeal is accordingly partially allowed by reducing the rate of interest but otherwise dismissed by sustaining",,,
the impugned judgment. Parties are left to bear their own costs.,,,