Supreme Court of India
N.M. Veerappa v. Canara Bank
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the aforesaid reasons, the appeal is allowed and the rate of 6% from date of suit fixed by the trial Court is restored.
Judgment, page 16
From the headnote
Code of Civil Procedure, 1908 : S. 34, Order 34 Rule l 1-Suit based on mortgage-Future interest- Rate of-Held, special provision of Order 34 Rule 11 is applicable and not s. 34-Caurt 's discretion to fix rate of interest-Explained-Provisions of s. 21- of Banking Regulation Act, 1949 do not effect Order 34 Rule 11- Banking Regulation Act, 1949-21- . Banking Regulation Act, 1949 : 21- -Rates of interest charged by banking companies-Scrutiny by courts-Exclusion of-Held, ss. 21, 21- and 35 do not affect Order 34 Rule 1 l CPC-Act does not intend to override the Code of Civil Procedure
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