https://www.taxtmi.com/caselaws?id=197162 Section 21-A of the Banking Regulation Act, 1949 bars courts from reopening bank loan transactions on the ground of excessive interest, and this prohibition applies to transactions entered into before its commencement as well as to suits and appeals pending when it came into force. The debtor has no vested substantive right to reopening under Section 3 of the Usurious Loans Act, 1918, because any such claim is only contingent relief subject to later legislative change. As an appeal is a continuation of the suit, the statutory bar operates throughout pending proceedings. The provision applies equally to agricultural and commercial advances, and the contrary view allowing reopening after Section 21-A was overruled. en-us Fri, 26 Mar 1993 00:00:00 +0530 Thu, 28 Dec 2017 18:13:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197162 Section 21-A of the Banking Regulation Act, 1949 bars courts from reopening bank loan transactions on the ground of excessive interest, and this prohibition applies to transactions entered into before its commencement as well as to suits and appeals pending when it came into force. The debtor has no vested substantive right to reopening under Section 3 of the Usurious Loans Act, 1918, because any such claim is only contingent relief subject to later legislative change. As an appeal is a continuation of the suit, the statutory bar operates throughout pending proceedings. The provision applies equally to agricultural and commercial advances, and the contrary view allowing reopening after Section 21-A was overruled. Case-Laws Indian Laws Fri, 26 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197162