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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.

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...

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Bombay High Court Allows Interest on Delayed Payment of Labour Court Award Under Section 33-C(2) of Industrial Disputes Act, 1947 — Interest Act, 1978 and Article 226 of Constitution Invoked to Prevent Miscarriage of Justice.

The petitioner, Mrs. Prabhavati Ramgarib B., filed a writ petition under Article 226 of the Constitution of India challenging the order of the Central...

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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.

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...

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Bombay High Court Dismisses MSEDCL's Application to Declare Arbitral Award Satisfied as Vexatious and Dilatory. Unilateral Deposit of Disputed Amount Without Decree-Holder's Consent Does Not Discharge Judgment-Debtor Under Section 31 CPC.

The case involves a Chamber Summons filed by Maharashtra State Electricity Distribution Company Limited (MSEDCL), the unsuccessful respondent in an ar...

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Bombay High Court Dismisses Petition Challenging Execution Court Orders in Arbitral Award Enforcement — Calculation of Amount Payable Under Award Upheld

The Petitioner, Konkan Railway Corporation Pvt. Ltd., a public sector undertaking, awarded a construction contract to the Respondent, M/s. B. T. Patil...

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Bombay High Court Dismisses Petition Under Section 34 of Arbitration Act Seeking Modification of Interest Award — Arbitral Tribunal's Discretion on Interest Rate and Period Not Interfered With

The Petitioner, IMC Limited (formerly United Storage & Tank Terminals Ltd.), filed a petition under Section 34 of the Arbitration and Conciliation Act...

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Supreme Court Upholds Enhanced Share Valuation, Awards Interest at 6% Pre-Decree and 9% Post-Decree in Decades-Old Dispute. Balancing Equity and Commercial Realities: SC Modifies Interest Rates in Rajasthan State Mines Share Acquisition Case

Valuation of Shares – The Supreme Court affirmed the High Court’s valuation of shares at ₹640 per share, rejecting the State’s objections. Th...

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Supreme Court Dismisses Appeal Against State, Modifies Decree for Interest in Commission Agent's Lien Case. Mere Possession of Goods as Commission Agent Does Not Create a Pledge, and Voluntary Transfer Without Reservation Extinguishes Lien Under Section 221 of the Indian Contract Act, 1872.

The dispute arose out of a commission agency agreement between the appellant, Ramprasad, and Hetampal Singh, a licence holder for grain distribution i...