Supreme Court · 1994 INSC 222 · Decided 20 June 1994
Corporation Bank v. D.S. Gowda and ANR.
- Court
- Supreme Court of India
- Citation
- 1994 INSC 222 · [1994] SUPP. 1 S.C.R. 170
- Case number
- CIVIL APPEAL No. 4214/1982
- Decided
- 20 June 1994
- Bench
- A.M. AHMADI, S.C. AGRAWAL (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
Headnote
BANK v. D.S. GOWDA AND ANR. JUNE 20, 1994 (AM. AHMADI AND S.C. AGRAWAL, JJ.) Banking Regulation Act 1949-Sections 21, 21-A and 35- A-Reserve Bank of lndia's Circulars and directives issued thereundei--lnterest with pe­ riodical rest chargeable by banks-For commercial loans, interest entire loan becomes over­ due-Held : Circulars and directives of Reserve Bank are based on rational policy, have statutory force and binding on banks-Where rate of interest with D periodical rests is f1Xed by Bank in disgard of RBI circulars, held, Court can reopen transaction and grant
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