Interest on overdue debts recoverable at prime lending rate from due date or from written demand until payment. Where no contractual interest is reserved, a creditor may prove for interest not exceeding the prime lending rate fixed by the central bank up to the relevant date, from the time the debt became payable if payable by a written instrument, or from the date a written demand stating interest will be claimed if payable otherwise, until payment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on overdue debts recoverable at prime lending rate from due date or from written demand until payment.
Where no contractual interest is reserved, a creditor may prove for interest not exceeding the prime lending rate fixed by the central bank up to the relevant date, from the time the debt became payable if payable by a written instrument, or from the date a written demand stating interest will be claimed if payable otherwise, until payment.
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