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Jun 28 1988

Indian Bank Vs. Datta Venkata Chinna Krishna Raju

Court : Andhra Pradesh

Decided on : Jun-28-1988

Subject : Company

Acts : Andhra Pradesh Agriculturists Relief Act, 1938 - Sections 4; Usurious Loans Act, 1918; Constitution of India - Article 14

Reported in : [1989]65CompCas451(AP)

15, 1984. Section 21A of the Banking Regulation Act read as follows : 'Notwithstanding anything contained in the Usurious Loans Act, 1918 (10 of 1918), or any other law relating to indebtedness in force in any State, a transaction between … by the Banking Companies Act, No. 5 of 1970 which is a special Indian law according to them. Section 4(e) of the above-mentioned Rajaji Act admittedly exempted loans advanced by banks constituted by a special Indian law from

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Aug 14 2008

Morepen Laboratories Ltd. and ors. Vs. Morgan Securities and Credits P ...

Court : Delhi

Decided on : Aug-14-2008

Subject : Arbitration

Acts : Arbitration and Conciliation Act, 1996 - Sections 5, 30, 30(4), 31(7), 34 and 36; Usurious Loans Act, 1918 - Sections 2, 2(3) and 3; Presidency Towns Insolvency Act, 1909 - Sections 9 and 9(2); Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 15 and 22(3); Code of Civil Procedure (CPC) , 1908 - Sections 2(14) and 47; Arbitration Act, 1899 - Sections 15; Arbitration Act, 1940 - Sections 17

Reported in : 2008(3)ARBLR283(Delhi); 2008(105)DRJ408

raised in execution proceedings for the enforcement of an award under the Act.(d) under Section 3 of the Usurious Loans Act, 1918 read with Section 2(3) thereof, the Court could declare that the interest charged was excessive or that the … No. 3 in EFA (OS) No. 19 to 21 of 2006 and the appellant in EFA (OS) No. 4 of 2007] stood surety. 4. The disputes between the parties in relation to the repayment of the loan

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Mar 26 1993

State Bank of Hyderabad and Etc. Etc. Vs. Advath Sakru and Another Etc ...

Court : Andhra Pradesh

Decided on : Mar-26-1993

Subject : Banking

Acts : Madras Agriculturists Debt Relief Act, 1938 - Sections 4; Usurious Loans Act, 1918 - Sections 3(1) and (2); Banking Regulations Act, 1949 - Sectiona 21A, 21(2), (3) and 46(3); Banking Companies Act; Usurious Loans (Madras Amendment) Act, 1936; Usury Laws Repeal Act, 1855; Landlord and Tenant (Amendment) Ordinance, 1957; Punjab Pre-emption (Repeal) Act, 1973 - Sections 3; Transfer of Property Act; West Bengal Premises Tenancy Act, 1956 - Sections 13(1); Assam Nonagricultural Urban Areas Tenancy Act, 1955 - Sections 5(1); Punjab Customs (Power to Contest) Amendment Act, 1973 - Sections 1(2), 7, 7(1), (2) and 9; Punjab Laws Act, 1872 - Sections 5; Benami Transactions (Prohibition) Act, 1988 - Sections 4; Code of Civil Procedure (CPC), 1908 - Sections 34 - Order 3

Reported in : AIR1994AP170; 1993(1)ALT608

prohibited/debarred from reopening the transactions entered into between the Banking Company and its debtor invoking the provisions of Usurious Loans Act, 1918 (for short 'Act 10 of 1918') irrespective of the fact whether the transaction was entered into prior to … matter is brought before the Court and a relief is sought under the provisions of Act 10 of 1918, Section 21-A comes into action and bars the Court from giving such relief. In elaboration of the above, it … the Supreme Court held that the Banking Companies Act is a special Indian law and the provisions of Section 4(c) of Act IV of 1938 are applicable to banks which are nationalised under the Banking Companies Act. Consequently,

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Jun 12 1990

Central Bank of India Vs. Popuri Sarangaiah and ors.

Court : Andhra Pradesh

Decided on : Jun-12-1990

Subject : Arbitration

Acts : Andhra Pradesh Agriculturists Relief Act, 1938 - Sections 4; Usurious Loans Act, 1918 - Sections 3; Banking Regulation Act, 1949 - Sections 21A

Reported in : 1991(1)ALT455; [1992]75CompCas493(AP)

common points that arise for consideration in all these appeals are : [1] whether the provisions of the Usurious Loans Act, 1918 [hereinafter referred to as 'the Act'], overrides the provisions of section 21A of the Banking Regulation Act [10 … of the suits were decreed in part and some of the suits were decreed as prayed for. 17. Section 4[e] of the Agriculturists Relief Act, so far as it is relevant, reads as follows : 'Nothing in this

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Sep 01 1984

Medikonda Satyanarayana and anr. Vs. Andhra Bank Ltd., Eluru

Court : Andhra Pradesh

Decided on : Sep-01-1984

Subject : Commercial

Acts : Banking Regulation Act, 1949 - Sections 21A; Banking Laws (Amendment) Act, 1984; Madras Agriculturists Relief Act, 1938 - Sections 4; Usurious Loans Act, 1918 - Sections 3; Constitution of India

Reported in : AIR1985AP77

allowed, Matter remanded. Commercial - benefit - Section 21A of Banking Regulation Act, 1949, Banking Laws (Amendment)Act, 1894, Section 4 of Madras Agriculturists Relief Act, 1938, Section 3 of Usurious Loans Act, 1918 and Constitution of India - … Interest Charged by Banking Companies Not To Be Subject To Scrutiny By Courts.- Notwithstanding anything contained in the Usurious Loans Act, 1918, or any other law relating to indebtedness in force in any State, a transaction between a banking company

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Mar 31 1982

Indian Bank, Tiruvannamalai Vs. V.A. Balasubramania Gurukal

Court : Chennai

Decided on : Mar-31-1982

Subject : Banking

Acts : Usurious Loans Act, 1918 - Sections 3 and 3(1); Banking Regulation Act, 1949 - Sections 21, 21(3), 46 and 46(4); Code of Civil Procedure (CPC), 1908 - Sections 34

Reported in : AIR1982Mad296; (1982)2MLJ238

the learned District Munsif was of the view that since the respondents are, agriculturists, the provisions of the Usurious Loans Act 1918, as amended by Tamil Nadu Act 8 of 1937 (hereinafter referred to as the Usurious Loans Act) have … nothing in Sec. 3 shall be construed as derogating from the existing power or jurisdiction of any court. Section 4 declared the applicability of Section 3 to proceedings in insolvency.12. By Tamil Nadu Act 8 of 1937, the

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Aug 31 1989

Bank of Baroda Vs. Rednam Nagachaya Devi

Court : Supreme Court of India

Decided on : Aug-31-1989

Subject : Commercial

Acts : Banking Regulation Act, 1949 - Sections 21-A; Usurious Loans Act, 1918; Debt Laws; Andhra Pradesh (Andhra Area) Agriculturists Relief Act, 1938 - Sections 4; Bank Companies (Acquisition and Transfer of Undertakings) Act, 1970; Constitutiion of India - Articles 13 and 14

Reported in : AIR1989SC2105; I(1990)BC89(SC); [1990]68CompCas165(SC); JT1989(3)SC597; 1989(2)SCALE489; (1989)4SCC470; 1989(2)LC590(SC)

is prospective in operation and that in relation to debts incurred prior to 5.2.1984 the provisions of the Usurious Loans Act, 1918, continue to be applicable to loans advanced by banks.9. If Section 4(e), upon its true construction, is held

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Feb 01 1991

Gulabchand Laxmichand Bhutada Vs. Central Bank of India and Another

Court : Mumbai

Decided on : Feb-01-1991

Subject : Company

Acts : Banking Regulation Act, 1949 - Sections 21 and 21A; Usurious Loans Act, 1918.

Reported in : (1991)93BOMLR996; 1992(1)MhLj68

the interest awarded by the courts below was liable to be scaled down under the provisions of the Usurious Loans Act, 1918, or otherwise liable to reduction on account of breach of the circulars issued by the Reserve Bank of … decision of the Supreme Court in Mithilesh Kumari v. Prem Behari Khare, : [1989]177ITR97(SC) where the provisions of section 4 of the Benami Transactions (Prohibition) Act (45 of 1988) fell for consideration. The relevant provision reads thus :

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Sep 05 1991

Bank of India, Vijayawada Vs. Katamaneni Suryanarayana and Others

Court : Andhra Pradesh

Decided on : Sep-05-1991

Subject : Constitution

Acts : Andhra Pradesh (Andhra Area) Agriculturists Relief Act, 1938 - Sections 4 and 13; Constitution of India - Article 14; Banking Regulations Act, 1949 - Sections 21 and 21(1), (2) and (3); Andhra Pradesh (Andhra Area) Co-operative Societies Act, 1932; Banking Companies Act - Sections 21A; Rajaji Act - Sections 4; Usurious Loans Act, 1918; Agricultural Debt Relief Act; Rajasthan Jagirdars' Debt Reduction Act, 1957 - Sections 2; Rajasthan Land Reforms and Resumption of Jagirs Act, 1952 - Sections 2

Reported in : AIR1992AP345; 1992(1)ALT125

the contentions pertaining to the effect of S. 21A of the Banking Companies Act on the applicability of Usurious Loans Act, 1918 and if the said Act is held attracted, whether the appellant is able to rebut the presumption of … Choudary, J. reported in Indian Bank, Palakole v. D. Venkata China Krishnam Raju, 1988 (2) ALT 148 holding Section 4(e)of the Agriculturists Relief Act as unconstitutional, held that the plaintiff Bank is not entitled to the exemption under

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Apr 23 1993

Vijaya Bank Vs. S. Bhathija and Another

Court : Karnataka

Decided on : Apr-23-1993

Subject : BankingCompany

Acts : Banking Regulation Act, 1949 - Sections 21 A and 46A; Banking Laws (Amendment) Act, 1983; Code of Civil Procedure (CPC), 1908 - Sections 34, 151 and 152 - Order 6, Rule 4; Mysore Usurious Loans Act, 1923; Usurious Loans Act, 1918;

Reported in : AIR1994Kant123; [1994]79CompCas478b(Kar); [1995]82CompCas161a(Kar); ILR1993KAR2035; 1992(2)KarLJ609

charged by banking companies not to be subject to scrutiny by Courts : Notwithstanding anything contained in the Usurious Loans Act, 1918, or any other law relating to indebtedness in force in any State, a transaction between a banking company … S. 21A in the Banking Regulation Act, by the Banking Laws (Amendment) Act, 1983 with effect from 15-2-1984. Section 21A reads :'21 A. Rates of interest charged by banking companies not to be subject to scrutiny by … amount due by defendants on the date of suit (27-11-1982) is Rs. 4,72,250/- (that is Rs. 3,00,000/- plus Rs. 1,72,250/- being the interest at 13%

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