Search Results for "Section 34 CPC"

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Search Results for "Section 34 CPC"

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Supreme Court

Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

29 Apr 2024

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

High Court

Bombay High Court Allows Second Appeal in Part, Sets Aside Interest Award in Loan Recovery Suit. No Agreement for Interest Existed Between Parties, Hence Interest Cannot Be Awarded Under Section 34 CPC or Interest Act.

30 Jun 2017

The case involves a second appeal filed by the original defendants against a decree for recovery of money. The respondent/plaintiff had filed a suit f...

High Court

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 2015

The 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...

High Court

High Court of Karnataka Allows Appeal in Credit Card Recovery Suit — Reduces Usurious Interest Rate of 2.5% per Month Compounded Monthly to 6% per Annum Simple. Contractual interest held unconscionable and against public policy under Section 34 CPC.

30 Jan 2015

The appellant, B. Gopa Kumar, was a credit card holder of Canara Bank (respondent) and was issued a Cancard-Visa card in 1998. He defaulted on payment...

High Court

High Court of Karnataka Upholds 12% Interest Rate on Fixed Deposit After Maturity in Co-operative Society Dispute. Court holds that in absence of contractual rate, interest under Section 34 CPC is applicable, rejecting both 6% and 17% claims.

31 Jul 2013

The case involves two appeals arising from a common order of a learned single Judge of the Karnataka High Court regarding the rate of interest payable...

High Court

High Court of Karnataka Allows Appeal in Part in Fixed Deposit Interest Rate Dispute — Rate of Interest Payable After Maturity Determined at 12% Per Annum. Court Holds That in Absence of Contractual Rate, Interest Payable Under Section 34 CPC at 6% But Considering Commercial Transaction, 12% Is Just and Equitable.

31 Jul 2013

The case involves two appeals arising from a common order of a learned single Judge of the Karnataka High Court regarding the rate of interest payable...

High Court

Bombay High Court Allows Appeal in Part, Restores Suit Against Guarantors and Awards Contractual Interest in Bank Recovery Suit. Guarantor liability is co-extensive with principal debtor; contractual interest must be awarded as agreed until date of suit and thereafter at court's discretion but not less than contractual rate under Order 34 Rule 11 and Section 34 CPC.

14 Jul 2010

The appellant, Bank of Baroda, filed a suit for recovery of Rs. 7,85,655.50 against defendants, including the principal borrower firm (defendants 1-3)...

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