The High Court considered a writ petition challenging a Cooperative Appellate Court order directing interest calculation without rest on a loan. The Court rejected the petition as devoid of merits, finding no patent illegality requiring interference under Article 227.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
10-WP-3196-2020.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION
WRIT PETITION NO. 3196 OF 2020
Shri. Veershiv Nagari Bigarsheti Sahakari Patsanstha Maryadit, Mangalwedha ...Petitioner
Versus
Shri. Ramesh Bapurav Patil & Ors. ...Respondents
Mr. Suhas S. Inamdar, for Petitioner.
CORAM : SANDEEP V. MARNE, J. DATE : OCTOBER 12, 2023.
P.C.:
Digitally signed by SAJAKALI SAJAKALI LIYAKAT LIYAKAT JAMADAR JAMADAR Date:2023.10.16 14:49:35 +0530
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10-WP-3196-2020.doc
Court has held that though the bank interest rate was substantially reduced by the time the Petition was heard, the contractual rate of interest of 19% p.a. has been maintained. Only limited relief is granted in directing that a calculation of simple interest would be ‘without any rest’. Mr. Inamdar, the learned counsel appearing for Petitioner-Society would contend that direction to levy interest ‘without rest’ would put the Society to losses as it pays interest to its depositors at quarterly/yearly rests.
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10-WP-3196-2020.doc
Cooperative Appellate Court in the peculiar facts and circumstances of the case
shall not be treated as a precedent.
(SANDEEP V. MARNE, J.)
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2 issues framed by the court
Whether writ jurisdiction under Article 227 is attracted to correct the direction to calculate interest without rest.
Whether the relief granted by the Cooperative Appellate Court suffers from patent illegality.
Shri. Veershiv Nagari Bigarsheti Sahakari Patsanstha Maryadit
Shri. Ramesh Bapurav Patil
SANDEEP V. MARNE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
