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.
3 Mar 2017The 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 Additio...
