https://www.taxtmi.com/caselaws?id=113218 In a commercial banking recovery dispute, the Court stated that pendente lite and post-decree interest may be regulated under section 34 CPC and, in debt recovery proceedings, under section 19(20) of the Recovery of Debts Due to Banks and Financial Institutions Act, subject to contractual limits and fair, reasoned discretion. It also noted that section 21A of the Banking Regulation Act does not bar application of section 34 CPC merely because interest is said to be excessive. On those principles, the High Court's reduction of the contractual interest rate and alteration of the periodicity of interest was upheld, and no further reduction to 12% per annum was warranted. en-us Fri, 01 Oct 2010 00:00:00 +0530 Mon, 01 Aug 2016 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113218 In a commercial banking recovery dispute, the Court stated that pendente lite and post-decree interest may be regulated under section 34 CPC and, in debt recovery proceedings, under section 19(20) of the Recovery of Debts Due to Banks and Financial Institutions Act, subject to contractual limits and fair, reasoned discretion. It also noted that section 21A of the Banking Regulation Act does not bar application of section 34 CPC merely because interest is said to be excessive. On those principles, the High Court's reduction of the contractual interest rate and alteration of the periodicity of interest was upheld, and no further reduction to 12% per annum was warranted. Case-Laws Companies Law Fri, 01 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113218