Supreme Court of India
Punjab and Sind Bank v. M/s. Allied Beverage Company Pvt. Ltd. and Ors.
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.
From the headnote
Interest: Rate of interest - Cash credit facility granted by Bank to a Company - Company suffered losses - Its account with Bank declared as Non-performing Assets - Recovery suit - ORT directed Company to pay outstanding dues alongwith 18% p.a. thereon with monthly rests - High Court modified the order of the ORT by reducing the pendente lite and future interest to 14% p.a. with 12 monthly rests - Held: High Court fairly neutralized the claim of the Bank as well as the sufferings of the Company and passed a workable order by reducing the rate of interest to 14% p.a. which would be simple
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