Court : DRAT Allahabad
Reported in : I(2008)BC6
..... the state of tamil nadu for the purposes of spreading and supplementing the cause of the medical education by establishing medical institutions. it has been argued that the object of trust is a pious one for imparting medical education under the medical council of india with approval of central government. therefore, the amount of two loans cannot be ..... has been observed that interest is to be paid at the agreed rate of interest. another ruling cited from the side of the respondent-bank is indian bank, tirunavnamalai v. v.a.balasubramania gurukal , wherein hon'ble madras high court has taken the view that there is no inconsistency between the provisions of ..... banking regulation act observing that the charging of compound or high rate of interest is not prohibited and the court is required to see if such transaction is unfair or the rate of interest is usurious. other rulings such as indian overseas bank v. vimala and syndicate bank v.sudhir surgical and allied industries air 1992 .....
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