Supreme Court · 2001 INSC 76 · Decided 7 February 2001
Solidaire India LTD. v. Fairgrowth Financial Services LTD. and ORS.
- Court
- Supreme Court of India
- Citation
- 2001 INSC 76 · [2001] 1 S.C.R. 932
- Case number
- CIVIL APPEAL No. 3760/1995
- Decided
- 7 February 2001
- Bench
- B.N. KIRPAL, RUMA PAL, BRIJESH KUMAR (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
~ - Special Court (Trial of Offences Relating to Transactions and Securities) Act, 1992-Seclion 13-Sick Industrial Companies (Special Provisions) Act, c 1985-Section 32 (/)-Appellant claimed to have colllracted loan at the rate of 18 per cent p.a.-Decree passed at a higher rate for non-repayment itself sick and relevant proceedings were 011-0n appeal Held, application of higher rate of interest permissible as there was no formal agreement and a claim to a higher rate had not been immediately refi1ted by the appellant in its correspondence- D Both the Acts are Special Acts. However
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