https://www.taxtmi.com/caselaws?id=272384 A statutory corporation created directly by parliamentary enactment was treated as not being formed "in pursuance of" a special Indian law for purposes of the Madras Agriculturists' Debt Relief Act, 1938, so the exemption from scaling down interest was construed strictly and did not apply. The text also notes that the relevant part of Section 4(e) was regarded as inconsistent with Article 14. On interest, quarterly rests were treated as compound interest; under the Tamil Nadu amendment to the Usurious Loans Act, such charging against agriculturists was presumed excessive and substantially unfair unless special circumstances were shown. In the absence of justification, only simple interest at the reduced statutory rate was recoverable. en-us Fri, 01 Apr 1983 00:00:00 +0530 Tue, 01 May 2018 17:06:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272384 A statutory corporation created directly by parliamentary enactment was treated as not being formed "in pursuance of" a special Indian law for purposes of the Madras Agriculturists' Debt Relief Act, 1938, so the exemption from scaling down interest was construed strictly and did not apply. The text also notes that the relevant part of Section 4(e) was regarded as inconsistent with Article 14. On interest, quarterly rests were treated as compound interest; under the Tamil Nadu amendment to the Usurious Loans Act, such charging against agriculturists was presumed excessive and substantially unfair unless special circumstances were shown. In the absence of justification, only simple interest at the reduced statutory rate was recoverable. Case-Laws Indian Laws Fri, 01 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272384