https://www.taxtmi.com/caselaws?id=305076 A dispute over a dishonoured bill of exchange turned on limitation, the Bombay Money Lenders Act, proof of liability, part payments, and contractual interest. The suit was treated as within limitation because it was filed within three years of dishonour. The money-lending bar was rejected because the defendants failed to prove that the transaction fell within regulated money lending. The bill, acceptance, and liability were proved, and later cheque and demand draft payments were treated only as part satisfaction, not full discharge, in the absence of waiver or novation. The agreed interest rate of 24% per annum was upheld, with adjustment for amounts already paid and costs awarded. en-us Thu, 10 Jan 2008 00:00:00 +0530 Tue, 15 Nov 2022 10:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305076 A dispute over a dishonoured bill of exchange turned on limitation, the Bombay Money Lenders Act, proof of liability, part payments, and contractual interest. The suit was treated as within limitation because it was filed within three years of dishonour. The money-lending bar was rejected because the defendants failed to prove that the transaction fell within regulated money lending. The bill, acceptance, and liability were proved, and later cheque and demand draft payments were treated only as part satisfaction, not full discharge, in the absence of waiver or novation. The agreed interest rate of 24% per annum was upheld, with adjustment for amounts already paid and costs awarded. Case-Laws Indian Laws Thu, 10 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305076