Partly allowed
Primary Co. Operative Agriculture and Rural Development Bank Ltd., v. State of Karnataka
Karnataka HCWP/57659/2017
Case brief
AI extract
What is this about?
Primary co-operative agriculture banks challenged a government order and circular requiring them to absorb losses from waived farmers' loan interest despite a prior reimbursement commitment. Finding them similarly placed to petitioners whose challenge had succeeded, the court quashed the order and circular and granted interest only from a later date.
What did the court decide?
Impugned G.O. dated 10.01.2008 and circular dated 23.01.2008 quashed; Rs.51.78 crores due with interest at 12% p.a. from 21.04.2009 till payment.