https://www.taxtmi.com/caselaws?id=108917 The appeal was disposed of with the decision to reduce the rate of interest to 18 per cent, providing a concession to the appellant based on the circumstances of the case. The court clarified that interest was payable on the balance principal amount, with payments adjusted towards interest first and then towards principal. Despite not addressing the adjustment of the initial payment against interest or principal, the court upheld the rest of the decree. en-us Tue, 25 Sep 2001 00:00:00 +0530 Mon, 19 Aug 2013 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108917 The appeal was disposed of with the decision to reduce the rate of interest to 18 per cent, providing a concession to the appellant based on the circumstances of the case. The court clarified that interest was payable on the balance principal amount, with payments adjusted towards interest first and then towards principal. Despite not addressing the adjustment of the initial payment against interest or principal, the court upheld the rest of the decree. Case-Laws Companies Law Tue, 25 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108917