Supreme Court · 2007 INSC 1110 · Decided 31 October 2007
M/S. P. Vaikunta Shenoy & CO. v. P. Hari Sharma
- Court
- Supreme Court of India
- Citation
- 2007 INSC 1110 · [2007] 11 S.C.R. 725
- Case number
- CIVIL APPEAL No. 5540/2001
- Decided
- 31 October 2007
- Bench
- A.K. MATHUR, MARKANDEY KATJU (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
B ~ / Karnataka Money Lenders Act, 1961; S. 2(10): Business/market practices-A commission agent advancing c money to supplier of areca nut, however, charging interest-Supplier allegedly did not repay the amount-Suit for recovery-Decreed by trial Court-Reversed by High Court-On appeal, Held: Though but his principal aim of such advancing of loan was to ensure D regular supply of goods, areca nuts and not money lending-Such a practice prevalent and wide-spread in such business-Applying principle of purposive construction to the definition of money-lenders, appellant could not be said to be
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