https://www.taxtmi.com/caselaws?id=459995 In the absence of any proved unfair, restrictive or monopolistic trade practice, a statutory authority cannot alter an agreed contractual rate of interest on refund or award litigation charges on equitable considerations alone. The Court noted that the refund of the registration amount had been made at the contractual rate, and there was no material, pleading, or finding showing unfair conduct, unreasonable pricing, or any duty to place the deposit in higher-yield investments. The enhancement of interest to 12% per annum and the award of litigation charges were therefore unjustified, and the appellant succeeded. en-us Tue, 21 Jul 2015 00:00:00 +0530 Tue, 07 Jan 2025 19:56:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459995 In the absence of any proved unfair, restrictive or monopolistic trade practice, a statutory authority cannot alter an agreed contractual rate of interest on refund or award litigation charges on equitable considerations alone. The Court noted that the refund of the registration amount had been made at the contractual rate, and there was no material, pleading, or finding showing unfair conduct, unreasonable pricing, or any duty to place the deposit in higher-yield investments. The enhancement of interest to 12% per annum and the award of litigation charges were therefore unjustified, and the appellant succeeded. Case-Laws Law of Competition Tue, 21 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459995