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 2015The 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...




