High Court of Karnataka Allows Appeal in KSFC Recovery Case — Interest Rate Reduced from 16.5% to 10% per annum. Court held that the rate of interest awarded by the trial court was excessive and reduced it to 10% per annum from the date of petition till realization, exercising discretion under Section 34 of CPC read with Section 32(9) of the State Financial Corporations Act, 1951....
The appeal was filed by the borrowers (M/s. Cozy Polystone (P) Ltd. and its directors) against the order dated 02.11.2012 passed by the XXXVII Additional City Civil and Sessions Judge, Bangalore, in M...




