AI Overview...
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Interest Rate During Pending Litigation - Courts and authorities generally restrict or disallow interest on amounts involved in litigation until the matter is resolved. For example, the Arbitrator lacked jurisdiction to award interest at a rate higher than the current rate prior to 1989, indicating a cap on permissible interest during disputes 01700039374. Similarly, interest for periods prior to notifications in land acquisition cases is often deemed not permissible, emphasizing judicial restraint on awarding interest during pending proceedings Special Land Acquisition Officer VS Karigowda - Rajasthan.
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Maximum Permissible Interest Rate - The application of the maximum marginal rate of tax or interest rate beyond prescribed limits is typically not permitted unless specific exceptions apply. Courts have held that the maximum marginal rate of tax is not applicable in all cases, and similar principles can be inferred for interest rates in litigation contexts JKS Employees’ Welfare Fund VS Income - Rajasthan.
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Interest in Land Acquisition and Compensation Cases - Courts have determined that compensation rates and interest are subject to specific statutory limits. For instance, land acquired at Rs. 103.50 per sq. yd. was deemed permissible, whereas higher rates like Rs. 400 per sq. yd. were not, illustrating judicial control over the interest and compensation awarded during ongoing disputes Bulandshahr Khurja Development Authority Thru. Secry VS Amir Kuwar - Allahabad.
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Legal Restrictions and Conditions - The law restricts the obligation to pay interest or impose maximum interest rates during the pendency of legal proceedings. For example, rent increase limits and the permissible extent of interest during litigation are enforced by courts, and exceeding these limits results in the dismissal of petitions or orders to pay the due amount with interest at the prescribed rate Jharkhand State Food & Civil Supplies Corporation Limited VS State of Jharkhand - Jharkhand.
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Constitutional and Regulatory Framework - Provisions under the Constitution (e.g., Articles 14, 226, 227) and relevant statutes (e.g., Land Acquisition Act, 1894) emphasize that interest during pending litigation is subject to statutory restrictions and judicial discretion, generally disallowing or limiting interest until final adjudication Centre for Public Interest Litigation VS Union of India - Supreme Court, Special Land Acquisition Officer VS Karigowda - Rajasthan.
Analysis and Conclusion:
The prevailing legal framework and judicial rulings indicate that the maximum interest rate permissible during pending litigation is generally limited or disallowed unless explicitly authorized by law or specific circumstances. Courts tend to restrict interest awards to current or statutory rates, particularly in land acquisition, tax, or contractual disputes, to prevent undue enrichment or misuse during the pendency of proceedings. Therefore, the maximum interest rate during pending litigation is typically governed by statutory limits and judicial discretion, with a strong tendency towards restricting or disallowing interest until final resolution.
Search Results for "Maximum Interest Rate Permissible during Pending Litigation"
2012 1 Supreme 513 • India - Supreme Court
ASOK KUMAR GANGULY, G.S.SINGHVI
Constitution of India,1950-Article 14-2G Spectrum Scam-Petition filed by Centre for Public Interest Litigation questioning grant ... applicants-Soon after his appointment as Minister of C&IT, he directed that all applications received for grant of UAS Licence should be kept pending ... alienation of natural resources/public property are likely to be misused by unscrupulous people who are only interested in garnering maximum ... The important questions which arise for consideration in these petitions, one of which has bee....
2005 0 Supreme(Guj) 755 • India - Gujarat
JAYANT PATEL
the amount of sale consideration to the purchaser, who is applicant of the concerned Company Application and also the reasonable interest ... transactions in question are declared invalid on condition that the amount of sale consideration mentioned in the sale deed with the interest ... at the rate of 12% per annum from the date of the transaction till the actual payment - Company Applications are disposed of with ... as in the interest of the company. ... The interest is created in favour of the mortga....
1992 0 Supreme(Raj) 627 • India - Rajasthan
V.K.SINGHAL
. - CONDITIONS - APPLICATION OF MAXIMUM MARGINAL RATE OF TAX - WHETHER PERMISSIBLE - HELD, NO Fact of the Case: The ... The application of the maximum marginal rate of tax is not covered by any of these exceptions and hence, the Income-tax Officer was ... The application of the maximum marginal rate of tax is not covered by any of these exceptions and hence, the Income-tax Officer was ... of arithmetical mistake, but whether the maximum marginal #HL....
2022 0 Supreme(All) 1856 • India - Allahabad
SUNITA AGARWAL, KRISHAN PAHAL
at the rate of Rs. 103.50 per sq. yd. for the acquired land, along with additional compensation and interest. ... The Court held that the determination of compensation at the rate of Rs. 400 per sq. yd. was not permissible and determined the compensation ... of Rs. 103.50 per sq. yd., along with additional compensation and interest. ... The determination of compensation at the rate of Rs. 400 per sq. yd., therefore, is not permissible. ... From the date of possession ....
2018 0 Supreme(Jhk) 324 • India - Jharkhand
ANUBHA RAWAT CHOUDHARY
The petitioner argued that the rent increase exceeded the permissible limit under Section 8 of the Act. ... dismissed the writ petition and directed the petitioner to pay the balance amount of the fair rent as fixed by the authorities, with interest ... The court also cited a previous case to support the interpretation that the 25% limit under Section 8 was not a maximum limit for ... It is submitted that that during the pendency of the litigation certain amount has been paid by the petitioner. ... 4. ... ... Petitioner....
2016 0 Supreme(Guj) 987 • India - Gujarat
N.V.ANJARIA
A mere pendency of prior application to a particular date, though may be pending long, cannot create a vested or crystallized right ... A mere pendency of prior application to a particular date, though may be pending long, cannot create a vested or crystallized right ... A mere pendency of prior application to a particular date, though may be pending long, cannot create a vested or crystallized right ... Similarly applications for grant of fresh lease under Chapter II of the Rules, 1963, which were pending on 31.05.2012 ....
2012 0 Supreme(Bom) 2169 • India - Bombay
MOHIT S.SHAH, R.V.MORE
The reservation itself makes it clear that the obligation upon owner is only restricted to handing over 10% of the permissible built ... Where reservation "housing for dishoused" was deleted therefore obligation upon owner is only restricted to handing over 10% of permissible ... service and since allotment of lands to co-operative housing societies without public auction is not only legal but in fact is permissible ... Judgment :- ... CHIEF JUSTICE ... In this petition, purporting to be public interest litiga....
2012 0 Supreme(Bom) 392 • India - Bombay
ROSHAN DALVI, MOHIT S.SHAH
A) Constitution of India, Arts.226, 227:- In the public interest litigation with regard to violation of the provision in the tripartite ... The permissible FSI is 1. Hence the total permissible FSI on the plot of land under the Powai ADS to be developed is 738609.29 sq. mtrs. ... The landholders further agree that they will have no right, title and interest, claim or demand in such whole infrastructure or any part thereof save and except to the benefit of the Floor Space Index as mentioned earlier. ... ....
2000 0 Supreme(Bom) 99 • India - Bombay
B.N.SRIKRISHNA, S.RADHAKRISHNAN
The court found that the Arbitrator did not have jurisdiction to award interest at a rate higher than the current rate of interest ... Ratio Decidendi: The Arbitrator did not have jurisdiction to award interest at a rate higher than the current rate of interest ... than the current rate of interest for the period prior to 1st March, 1989. ... (The parties are agreed on the figure calculated on the footing that the....
2010 0 Supreme(Raj) 472 • India - Rajasthan
R.V.RAVEENDRAN, SWATANTER KUMAR
for the period prior to the notification — Held — Interest for the period prior to the notification u/Sec. 4 is not permissible ... ;(b) Land Acquisition Act, 1894, Sec. 4 and 48 — Land taken in possession prior to issuance of notification u/Sec. 4 — Grant of interest ... An established maxim “Boni judicis est lites dirimere, ne lis ex lite oritur, et interest reipublicae ut sint fines litium”, casts a duty upon the Court to bring litigation to an end or at least endure that if possible, no further #HL_....
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