https://www.taxtmi.com/caselaws?id=768189 A commercial share-transfer dispute concerned the rate of interest on delayed payment after the valuation issue had become final. The Supreme Court treated interest as compensatory and applied Section 34 of the Code of Civil Procedure, 1908 in the absence of any agreement. It emphasised that the award of interest is discretionary, must rest on equitable considerations, and should not be punitive. The Court found the claimed rate of interest with monthly rests excessive and instead awarded simple interest at 6% per annum from 8 July 1975 until decree and 9% per annum from decree until realisation. en-us Tue, 01 Apr 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768189 A commercial share-transfer dispute concerned the rate of interest on delayed payment after the valuation issue had become final. The Supreme Court treated interest as compensatory and applied Section 34 of the Code of Civil Procedure, 1908 in the absence of any agreement. It emphasised that the award of interest is discretionary, must rest on equitable considerations, and should not be punitive. The Court found the claimed rate of interest with monthly rests excessive and instead awarded simple interest at 6% per annum from 8 July 1975 until decree and 9% per annum from decree until realisation. Case-Laws Indian Laws Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768189