Karnataka High Court Allows Appeal in Recovery Suit, Reduces Interest Rate from 23% to 6% p.a. for Money Lending Transactions. Court Held That Charging 23% Interest Was Unconscionable and Excessive Under Section 34 CPC, and Reduced It to 6% p.a. Simple Interest.
1 Dec 2015The plaintiff, G.R. Shet, proprietor of M/s Shet & Co., filed a suit for recovery of money against M/s Bawa Enterprises (a partnership firm) and its p...




