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Yashwant Shah ( D ) By Lrs vs Preeti Aggarwal & Anr

Supreme Court Of India|13 April, 2010
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JUDGMENT / ORDER

Summary

Issue: Rate of interest on unpaid debts
Rule: Section 79 of the Indian Contract Act, 1872
Application: Reduced the rate of interest from 18% per annum to 9% per annum
Conclusion: The reduction in the rate of interest has resulted in a lesser burden on the respondents, as they now have to pay a lower interest on the decreed amount.
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 7278 OF 2002 YASHWANT SHAH (D) BY LRS. ..... APPELLANTS VERSUS PREETI AGGARWAL & ANR. ..... RESPONDENTS O R D E R Having heard the learned counsel for the parties at length, we find no error to have been committed by the Special Court in granting decree in Summons for Judgment No. 1 of 1999. No question of law as such arises for our consideration. However, having regard to the totality of the facts and circumstances of the case, we consider it appropriate to reduce the rate of interest from that of 18% per annum as awarded by the Special Court to 9% per annum.
The appeal succeeds to this limited extent. The appeal is partly allowed without any order as to costs.
. J [B. SUDERSHAN REDDY] . J [SURINDER SINGH NIJJAR] NEW DELHI APRIL 13, 2010.
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Title

Yashwant Shah ( D ) By Lrs vs Preeti Aggarwal & Anr

Court

Supreme Court Of India

JudgmentDate
13 April, 2010
Judges
  • B Sudershan Reddy
  • Surinder Singh Nijjar