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Supreme Court of India

I.K. Merchants Pvt. Ltd. & Ors. v. The State of Rajasthan & Ors.

Neutral citation
Reported as [2025] 4 S.C.R. 2753
Bench J.B. Pardiwala and R. Mahadevan JJ.
Decided 1 April 2025

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

We hold that the High Court was not justified in granting interest at the rate of 18% per annum with monthly rests.

Judgment, page 33

From the headnote

Issue for Consideration Issue arose as regards the appropriate rate of interest to be awarded on the enhanced valuation of shares sold by the appellants to the Respondent No.1-State in 1973 as determined by the High Court and affirmed by Supreme Court. Headnotes† Code of Civil Procedure, 1908 – s.34 – Interest – Grant of appropriate rate of interest in a commercial transaction – No agreement between the parties relating to grant of interest for delayed payment – In 1973, the appellants sold their shares in Respondent No.2 to the Respondent No.1-State at Rs.11.50/- per equity share – Suit

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