Supreme Court · 1987 INSC 180 · Decided 21 July 1987
Everest Industrial Corporation & Others v. Gujarat State Financial Corporation
- Court
- Supreme Court of India
- Citation
- 1987 INSC 180 · [1987] 3 S.C.R. 607
- Case number
- CIVIL APPEAL No. 1446/1987
- Decided
- 21 July 1987
- Bench
- E.S. VENKATARAMIAH, K.N. SINGH (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- CPC Section 34, 0
Headnote
B ¥,· - . .._ - State Financial Corporations Act, 1951: ss. 31 & 32-NatUre of proceedings under-Loan-Rate of interest chargeable on principal amount-Whether governed bys. 34 C.P.C. or payable at contractual rate. Civil Procedure Code, 1908: s. 34, 0. 34, rr. 6 & 11-Applica- c Act, 1951. The appellants had borrowed from the respondent Corporation a certain sum for the acquisition of fixed assets under a deed of hypothe- D cation. They also created an equitable mortgage, mortgaging the land and factory building by depositing the original title deeds of the
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