https://www.taxtmi.com/caselaws?id=174546 The Supreme Court allowed Civil Appeal 85/1972, setting aside the High Court's judgment due to concerns about unconscionable interest and unreasonable provisions in the Kuri system. The Court upheld the validity of Kuri transactions, emphasizing that recovering the balance amount on default was not penal if the debt was due from the debtor on the date of the bond but allowed to be paid in installments. The Supreme Court dismissed Special Leave Petition 2908/75, adopting the reasoning of the full Bench decision and affirming that the stipulation for recovering the balance amount on default was not penal or unconscionable. en-us Fri, 03 Apr 1987 00:00:00 +0530 Sat, 10 Oct 2015 09:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174546 The Supreme Court allowed Civil Appeal 85/1972, setting aside the High Court's judgment due to concerns about unconscionable interest and unreasonable provisions in the Kuri system. The Court upheld the validity of Kuri transactions, emphasizing that recovering the balance amount on default was not penal if the debt was due from the debtor on the date of the bond but allowed to be paid in installments. The Supreme Court dismissed Special Leave Petition 2908/75, adopting the reasoning of the full Bench decision and affirming that the stipulation for recovering the balance amount on default was not penal or unconscionable. Case-Laws Indian Laws Fri, 03 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174546