https://www.taxtmi.com/caselaws?id=200253 An appeal was treated as raising a question of law because it concerned the legal effect of the Banking Regulation Act and the Usurious Loans Act on a nationalised bank's interest rate, so the objection based on Section 96(4) of the Civil Procedure Code did not apply. The text further states that the Usurious Loans Act does not control interest rates generally, but permits relief only where a transaction is excessive or substantially unfair. Compliance by a nationalised bank with binding Reserve Bank of India directives was treated as special circumstances rebutting any presumption of excessiveness, so the interest was not reopened or reduced. en-us Wed, 31 Mar 1982 00:00:00 +0530 Sat, 24 Mar 2018 14:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200253 An appeal was treated as raising a question of law because it concerned the legal effect of the Banking Regulation Act and the Usurious Loans Act on a nationalised bank's interest rate, so the objection based on Section 96(4) of the Civil Procedure Code did not apply. The text further states that the Usurious Loans Act does not control interest rates generally, but permits relief only where a transaction is excessive or substantially unfair. Compliance by a nationalised bank with binding Reserve Bank of India directives was treated as special circumstances rebutting any presumption of excessiveness, so the interest was not reopened or reduced. Case-Laws Companies Law Wed, 31 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200253