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Search Results Judgments > Act:prohibition of charging exorbitant interest act Page:7

Sep 13 2013

that issue of paddy to be limited to the extent ...

  • Decided on : 13-Sep-2013

Court : Punjab and Haryana

... from respondent No.1. There is no bar in contract agreement regarding charging of interest on due amounts by one party from the other. When grant of interest not prohibited by terms of the contract agreement, then in case the Arbitrator awarded interest at the above said rate, then no illegality committed by Arbitrator, particularly ... as such has no force. 16. It is also contended by counsel for petitioner that award of interest at rate of 18% per annum is not permissible and such by grant of interest at such exorbitant rate Arbitrator has mis-conducted the proceedings. After going through clause L of the contract agreement ... document FAO No.435 of 2006 -8- (2) Arbitration Law Reporter 324, lays that it is within domain of Arbitrator to award interest. So Arbitrator while awarding interest has not acted in violation of the terms of the contract agreement. As the Arbitrator interpreted terms of the contract agreement in best suitable way ... is obvious that out of the total paddy of 2000 MT to be lifted at-least 200 MT should be released in the fiRs.instance. Interest of FCI secured due to furnishing of bank guarantee by respondent No.1. It is admitted by AW1 that after issue of release order ... retained by miller @ ` 19.18P ` 23,574.00 (b) Sales Tax @ 4.4% ` 1,037.00 (c) Income Tax on milling charges/stitching 34.00 charges ` 6,172.00 (d) Quality cut ` (e) Any other Misc. charges recoverable ` xxx (iii) Total amount recoverable from the Miller ` 14,58,886.00 B. (iv) Amount payable ...

Apr 23 1976

Kailaschand Khusalchand Bakliwal Vs. The State of Maharashtra

  • Decided on : 23-Apr-1976

Court : Mumbai

Reported in : (1977)79BOMLR449

... course of business or as isolated transactions. We can take judicial notice of the fact that in most cases of loans by money-lenders exorbitant interest is always charged and the debts by private money-lenders cannot be treated on the same footing as debts given by banks or other corporations or ... does not exceed Rs. 40,000 and in respect of such debts, there is only a moratoria prohibiting recovery of the debt or any part thereof or even interest during the period during which the Act remains in force. We might make it clear that there was no challenge made before us ... the Act except to the limited extent that it covers loans without interest in the definition of debt. We must, therefore, declare that the Act will not apply to a loan which is an advance without interest as indicated in the definition of debt. So far as the other provisions of the Act ... to the substance of the Act made the following observations (p. 54):The substance of the Act is to give relief to agriculturists in respect of interest accruing upon the debt due from them. In one aspect it relates to moneylending and money-lenders because the reduction of interest on loans made to ... (1) of the Constitution of India. The Central legislation referred to was the Gold (Control) Act. The argument runs thus: The Parliament has enacted the Gold (Control) Act, 1968, 'to provide, in the economic and financial interests of the community, for the control of the production, manufacture, supply, distribution, use and possession ...

May 25 2000

V.S. Krishnan and Anr. Vs. State of U.P. and Anr.

  • Decided on : 25-May-2000

Court : Allahabad

Reported in : 2000CriLJ4498

... the impugned first information report making the self-same allegations with certain improvements which are manifestly false and concocted with a view to pressurise them to satisfy his demand of exorbitant interest which was never agreed to between the parlies. The lodging of the said report being mala fide and with oblique motive, contend the petitioners, the Court in exercise of its ... case arising in Trinidad, the Court emphatically refuted a suggestion that power vested in an immigration officer to detain a person whom he had 'reason to suspect' of being a prohibited immigrant, imported a purely subjective test of reasonableness. Section 41 which is a substantive provision conferring power on the police to arrest a person without warrant, in a way, impliedly ... . It is not desirable to suspect their honesty and trustworthiness. They should be allowed to act freely in the matter of investigation so long as they do not overstep their power conferred by law. Court's function begins after the investigation ends resulting in filing of charge-sheet or final report and not before that. The question with regard to Court's ... on a mere allegation of commission of an offence made against a person. It would be prudent for a police officer in the interest of protection of the constitutional rights of a citizen and perhaps in his own interest that no arrest should be made without a reasonable satisfaction reached after some investigation as to the genuineness and bona fides of a ...

Aug 20 1999

Father Thomas Shingare and others Vs. The State of Maharashtra and oth ...

  • Decided on : 20-Aug-1999

Court : Mumbai

Reported in : 2000(5)BomCR1; 2000BomCR(Cri)1

... bodies/institutions were likely to resort to actions leading to the exploitation of the students and their parents by charging exorbitant fee and such instances, in fact, were glaringly noticed and when it became a social evil, the Government stepped in and enacted the Act and provided for penal provisions.13. In the case of Kanvarsing v. Delhi Administration, : [1965]1SCR7 the Supreme ... direct complaint to the Magistrate is the third part of section 3(3) of the Act.12. In the preamble of the Act it is, inter alia, stated :'and whereas with a view to effectively curb this evil practice it is expedient in the public interest to prohibit the collection of capitation fee for admission to students or promotion to a higher standard or ... 7 of the Maharashtra Educational Institutions (Prohibition of Capitation Fees) Act, 1987 (Hereinafter referred to as the said Act for short). He further alleged that the school was not entitled to recover the amount from him under different heads for other trusts when the school was being run by the education society and even otherwise the act of charging the amount from time to time ... the learned Magistrate was not tenable as it is not intended in the provisions of the said Act to file the complaint directly before the Magistrate, especially when the primary object of the Act is to regulate the charging of fee at an exorbitant rate. As the Act isregulatory, recitative and corrective in nature and its punitive object is secondary and it falls in the ...

Sep 21 2012

Lakshmi School and Others Vs. State of Tamil Nadu and Others

  • Decided on : 21-Sep-2012

Court : Chennai

... that private schools are charging exorbitant fee. Referring to those materials, while upholding the provisions of the T.N.Schools Fees Act, 2009 (vide paragraph Nos.13, 14, 15, 17, 18, 20 and 21) and observing that the Scheme of the Act is in consonance with ... Act 22 of 2009. 58. Challenge to Section 3(3) and Section 7(3):- The object of the Act is to regulate collection of fee by private schools and to see that the schools do not collect exorbitant fee and involve in profiteering. Prohibition of collection of excess fee is set forth in Section 3 of the Act, which reads as under:- "3. Prohibition ... Collection of Fee) Act, 2009 in respect of the petitioner School, quash the same and consequently direct the 2nd respondent to act as per Section 7(3)(i) of the Tamil Nadu Schools (Regulation of Collection of Fee) Act, 2009 in the interests of justice. ... charging exorbitant fees. In so far as CBSE schools, State Government has the bounden duty to see that the fee collected by CBSE schools are commensurate with the facilities provided and see that CBSE schools do not indulge in profiteering or charging capitation fees, when there is no Central Act ... Act except Section 11 of the Act and Rules 4(4) and 4(5) of the Rules, which gave power to the educational authorities for entering the School for such inspection and seizure. By perusal of the judgment, it is seen that on behalf of the Government, considerable material has been placed on record showing that private schools are charging exorbitant ...

Nov 14 2006

Darus Salam Educational Trust rep. by its Trustee, Syed Shah Akbar Niz ...

  • Decided on : 14-Nov-2006

Court : Andhra Pradesh

Reported in : 2007(4)ALD73

... of the Apex Court that the State regulation is permissible to check exploitation of students by charging exorbitant money or capitation fee and the committees for monitoring admission procedure and determining fee structure are permissible as regulatory measure aimed at protecting the interest of the student community as a whole as also the minorities themselves and such a ... G.Os pertaining to the year 2006.19. Andhra Pradesh Educational Institutions regulation of admission and prohibition of capitation fee Act, 1983 (Act 5/83) is the enabling statute providing for the scheme of regulation of admission in the educational institutions (for short, `the Act') and in supercession of A.P. Educational Institutions Regulation of Admission into Undergraduate Professional ... fee structure. State regulation should be minimal and only with a view to maintain fairness and transparency in admission procedure and to check exploitation of the students by charging exorbitant money or capitation fees.For the aforesaid reasons, we cannot approve of the scheme evolved in Islamic Academy to the extent it allows the States to fix ... Court in P.A.Inamdar case. The State Government in exercise of powers under Section 3 and 15 of Andhra Pradesh Educational Institutions (Regulation of Admissions and Prohibition of Capitation Fee) Act, 1983 and in supercession of Andhra Pradesh Unaided Minority Professional Institutions (Regulation of Admissions into M.B.A/M.C.A Professional Courses through Common Entrance ...

Aug 20 2008

Smt. Leelabai Gajanan Pansare and Ors. Vs. The Oriental Insurance Co. ...

  • Decided on : 20-Aug-2008

Court : Supreme Court of India

Reported in : 2009(4)BomCR774; JT2008(9)SC551; 2008(11)SCALE391; (2008)9SCC720; 2008(2)LC1155(SC); 2008(6)Supreme89

... the Bombay Rent Act, 1947 ('1947 Act'). That Act was passed to amend and consolidate the law relating to rents, repairs, eviction of tenants, control of rates of hotels and lodging houses and to control charges of licensed premises since 1.2.1973. The Act was passed to control the rents so as to prevent the landlords from exploiting the tenants by charging exorbitant rents with ... Legislature, it is clear that, India's PSUs are in the form of statutory corporations, public sector companies, Government companies and companies in which the public are substantially interested (see: Income tax Act, 1961). When the word PSU is mentioned in Section 3(1)(b), the State Legislature is presumed to know the recommendations of the various Parliamentary Committees on PSUs. ... which the prohibition on receiving premium under Section 18 of the 1947 Act stood deleted. In other words, landlords were given the liberty to charge premium. The second package was to exclude cash-rich body corporates and statutory corporations from the protection of the Rent Act. This part of the economic package helps the landlords to enhance the rent and charge rent to ... and lodging houses and to control charges of licensed premises since 1.2.1973. The Act was passed to control the rents so as to prevent the landlords from exploiting the tenants by charging exorbitant rents with a view to take wrong advantage of growing acute shortage of 4 4 accommodation in urban areas. Thus, that Act was also enacted to give further ...

May 28 1928

Ribnik v. McBride

  • Decided on : 28-May-1928

Court : US Supreme Court

... exorbitance of the charges, and the arbitrary control to which the public may be subjected without regulation are elements to be considered in determining whether the "public interest" exists. Wolff Co. v. Industrial Court, supra, 262 U. S. 538 . The economic disadvantage of a class and the attempt to ameliorate its condition may alone be sufficient to give rise to the "public interest ... S. 718; Riley v. Massachusetts, 232 U. S. 671 ; Miller v. Wilson, 236 U. S. 373 ; Bosley v. McLaughlin, 236 U. S. 385 ; or prohibited the payment of wages in advance, Patterson v. Bark Eudora, 190 U. S. 169 ; Strathearn S.S. Co. v. Dillon, 252 U. S ... 11 1/2; Labor Laws Conn. (Revision of 1920) 2333-2337; Burns Annot.Stat. Ind. (1914), 7131a-7131i, as amended by Acts (1921), p. 263; Acts Iowa (1925), c. 39; Acts Mich. (1925), No. 255; Comp.Stat. Neb. (1922), 7734; General Business Law N.Y. 185; Pub.Laws N.C. (1925 ... interest in seeing that its workers find employment without being imposed upon, than in seeing that its citizens are entertained. Here, too, if the business is subject to regulation, as seems to be admitted, the regulation which is appropriate and effective is some curtailment of the exorbitant fees charged ... is asked to pay an extra fee on the promise of getting first consideration. The fees charged are oftentimes exorbitant." [ Footnote 5 ] Employment Bureaus, Willoughby, supra, pp. 3-4. The Act of June 19, 1906, c. 3438, 34 Stat. 304, 307, enacted by Congress for the District ...

Apr 12 2012

Society for Un aided Private Schools of Rajasthan. Vs. U.O.I. And Anot ...

  • Decided on : 12-Apr-2012

Court : Supreme Court of India

Reported in : 2012(3)MLJ993; 2012(3)KantLJ177; 2012(6)SCC1; 2012(2)KCCR50SN; 2012(4)SCJ318

... regulations, it was pointed out, should be minimal and only with a view to maintain fairness and transparency in admission procedure and to check exploitation of the students by charging exorbitant money or capitation fees. Inamdar, disapproved the scheme evolved in Islamic Academy to the extent it allowed States to fix quota for seat sharing between management and the ... any factory or be engaged in any hazardous employment. The Factories Act, 1948 prohibits the employment of children below the age of 14 years in any factory. Mines Act, 1952 prohibits the employment of children below 14 years. Child Labour (Prohibition and Regulation) Act, 1986 prohibits employment of children in certain employments. Children Act, 1960 provides for the care, protection, maintenance, welfare, training, education ... (at page 594) and took the view that, in the context of Article 30(1), no right can be absolute and no community can claim its interest above national interest. The expression "national interest" was used in the context of respecting "laws of the land", namely, while imposing restrictions with regard to laws relating to taxation, sanitation, social welfare, ... extent of per child expenditure incurred by the State in a school specified in Section 2(n)(i) or the actual amount charged from the child, whichever is less. Such a restriction is in the interest of the general public. It is also a reasonable restriction. Such measures address two aspects, viz., upholding the fundamental right of the ...

Oct 22 1982

D.S. Gowda Vs. Corporation Bank

  • Decided on : 22-Oct-1982

Court : Karnataka

Reported in : [1985]57CompCas668(Kar)

... he was not liable to pay interest with quarterly rests; and the bank, therefore, was justified in charging interest as claimed in the suit. On the question of relief claimed under the Mysore Usurious Loans Act, 1923, it was held that D. S. Gowda had not established that his loan transaction was unfair or the interest charged was excessive or exorbitant. 12. With these findings, the ... loans for period of not less than seven years. 46. On June 26, 1976, a further directive was issued prohibiting banks from charging penal rate of interest in lieu of commitment charge or as a revenue raising measure. It, however, permitted banks to charge penal interest to enforce discipline in the conduct of the account subject to one per cent. to 2.5 owe cent. ... the interest on rupees four lakhs earlier advanced. The defendant was not liable to pay compound interest or penal interest, since it was not one of the terms of the loan transaction. The interest charged, at any rate, was exorbitant and the transaction was substantially unfair and, therefore, the defendant would be entitled to the relief under the provisions of the Mysore Usurious Loans Act, ... under the Mysore Usurious Loans Act, 1923, it was held that D. S. Gowda had not established that his loan transaction was unfair or the interest charged was excessive or exorbitant. 12. With these findings, the court below made a preliminary decree in directing D. S. Gowda to pay the suit claim along with costs and future interest at the rate of 161/ ...

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