The right of interest arises only after the claim for any principal sum is found valid and then also award of interest is within the discretion of the Court. BWDB vs Contractor: 53 DLR 200.
Section 34 gives complete discretion to the Court to award pendente lite interest. Sonali Bank vs Mahbub. 41 DLR 298:1984 BLD(AD)74.
A plaintiff does not have any statutory right for automatically getting interest on the principal amount. Janata Bank vs Wahid. 1995 BLD(AD) 51;
But the court has no option but to award interest pendente lite to mortgagee in foreclosure suit or redemption suit. Sonali Bank vs Beg. 2. BLC(AD)173.
Court is free to award interest as it considers in its discretion and is not bound by the rate as stated in the contract. M. vs Sonali Bank. 37 DLR(AD) 1:1984 BLD (AD) 242:
Terms of the decree being silent as to further interest or any interest, it must be held that the court has refused such interest. Kadam vs Sonali Bank 42 DLR(AD) 294:37 DLR 215:14 BLD(AD)239.
But this theory of non inventus i.e.not found in the decree as to interest was not accepted by the Appellate Division on the ground "plaintiff made a specific prayer for interest from the date of the suit." Sonali Bank vs Mahbub. 42 DLR(AD)107.
The court has no discretion in case of other statutory interest, e.g. under section 47B of the Insurance Act. Chalna Marine vs Reliance Insurance.50 DLR (AD) 100;;BGI vs Chalna.51 DLR 357.
