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Supreme Court of India

The State of Karnataka & Ors. v. The Karnataka Pawn Brokers Assn. & Ors.

Neutral citation
Reported as [2018] 10 S.C.R. 409
Bench Madan B. Lokur and Deepak Gupta JJ.
Decided 15 March 2018

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.

3 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that the clause not providing for interest is neither arbitrary nor palpably unreasonable, nor even unconscionable.

Judgment, page 21

From the headnote

Karnataka Money Lenders Act, 1961 – s.7- and 7- – Karnataka Pawn Brokers Act, 1961 – s. 4- and 4- – Whether the amendments made to the Karnataka Money Lenders Act (M.L. ct) and Karnataka Pawn Brokers Act (P. . Act) in 1998 providing that the security deposit furnished by the money lenders and pawn brokers in terms of ss. 7- and 4- of the Acts respective ly shall not carry interest, is constitutional, legal and valid – Hel d: Legal and valid – Businesses of money lending and pawn broking are us urious businesses and the Government may rightly impose on erous conditions to restrict or even

Authorities it was built on

Where later benches applied it

Of those, 1 distinguished · 2 referred to

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