Search Results for "rate of interest"

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Supreme Court

Supreme Court Dismisses Appeal in Civil Procedure Amendment Case Regarding Mortgage Redemption Suit. The court upheld the lower courts' orders allowing amendment of plaint under Order VI Rule 17 of the Code of Civil Procedure, 1908, holding that issues of limitation and res judicata should be decided at trial, not at the amendment stage.

14 Mar 2023

The dispute originated from a property in Ballia, where the plaintiffs claimed ownership of a shop and filed Suit No. 154 of 2009 for possession upon ...

Supreme Court

Supreme Court Dismisses Applications for Recall of Interest Rate Reduction Order in Real Estate Dispute. Builders sought to restore interest rate reduction benefits granted to Amrapali Group, but court held contractual obligations cannot be unilaterally altered and relief was fact-specific to Amrapali's circumstances.

28 Feb 2023

The Supreme Court considered a batch of interlocutory applications filed by various promoters, developers, and builders operating in Noida and Greater...

Supreme Court

Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

3 Jan 2023

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

Supreme Court

Supreme Court Partly Allows Appeal in Arbitration Case, Modifying Interest Award Due to Claimant's Delay and Unreasonable Rate. Arbitrator's Discretion Under Section 31(7)(a) of Arbitration and Conciliation Act, 1996 Must Be Exercised with Reasons, and Interest Cannot Be Awarded for Periods of Inaction, with Rate Reduced from 18% to 9% and 6%.

30 Sep 2022

The dispute originated from a construction contract awarded in 1971 for building a road link, with completion delayed until 1977. The contractor, afte...

Supreme Court

Supreme Court Enhances Compensation in Motor Accident Claim Case by Awarding Future Prospects. The Court held that future prospects at 40% should be included in compensation calculation as per principles from National Insurance Company Ltd. v. Pranay Sethi and Ors., enhancing the total award to Rs. 1,06,71,710/- with 7.5% interest.

22 Sep 2022

The appeal arose from a motor accident claim where the deceased, S. Karthikeyan, died in an accident on January 15, 2013, when his motorcycle collided...

Supreme Court

Supreme Court Dismisses Appeal in Arbitration Case Upholding Arbitrator's Discretion on Post-Award Interest. The Court held that under Section 31(7)(b) of the Arbitration and Conciliation Act, 1996, the arbitrator has discretion to determine the quantum for post-award interest, and since the award specified interest only on the principal, the statutory default did not apply.

1 Sep 2022

The appeal arose from a judgment of the Delhi High Court dismissing an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, which ch...

Supreme Court

Supreme Court Enhances Compensation for Paraplegic Child Victim in Motor Accident Claim Due to Inadequate Award by High Court. Compensation Recalculated Based on Minimum Wages, Future Prospects, and Liberal Approach for 100% Disability Under Motor Vehicles Act, 1988, Considering Lifelong Disabilities and Just Compensation Principles.

29 Mar 2022

The appeal was filed by a five-year-old victim of a road accident that occurred on 21 September 2010, challenging the High Court's order dated 7 Septe...

Supreme Court

Supreme Court Allows State Appeal in U.P. Excise Act Interest Dispute, Holding Licensee Liable for Interest Despite Interim Stay. Interest on Arrears of Excise Revenue is Payable Under Section 38A of U.P. Excise Act, 1910, as Interim Stay Only Suspended Recovery Without Nullifying Statutory Obligation.

25 Mar 2022

The dispute arose from the respondent's license for retail sale of country liquor in Uttar Pradesh for the year 2002-03. The respondent applied for su...

Supreme Court

Supreme Court Allows Withdrawal of CIRP Proceedings in Insolvency Case Based on Settlement with Majority Home Buyers. Original applicants (home buyers) permitted to withdraw Section 7 application under Insolvency and Bankruptcy Code, 2016 as settlement reached with corporate debtor and majority home buyers, with corporate debtor undertaking to complete project within one year.

3 Mar 2022

The dispute arose from a housing project in Gurgaon, where the corporate debtor, Jasmine Buildmart Pvt. Ltd., failed to complete the project within ei...

Supreme Court

Supreme Court Quashes FIRs in Cheating and Forgery Case Due to Abuse of Process and Civil Dispute Nature. Criminal Proceedings Under Sections 120B, 420, 465, 468, 471 IPC Set Aside as Allegations Were Absurd and Filed Maliciously Post-Civil Litigation to Harass Accused.

18 Feb 2022

The Supreme Court of India heard appeals challenging the dismissal by the High Court of Karnataka of petitions under Section 482 of the Code of Crimin...

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