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Judgment Search Results Home > Cases Phrase: the usurious loans act 1918 Year: 1968 Page 1 of about 4 results (0.020 seconds)

Dec 06 1968 (SC)

Soli Pestonji Majoo and ors. Vs. Gangadhar Khomka

Court : Supreme Court of India

Decided on : Dec-06-1968

Reported in : AIR1969SC600; (1969)1SCC220; [1969]3SCR33

..... the date of redemption in all circumstances even if there is no question of the rate being penal, excessive or substantially unfair within the meaning of the usurious loans act, 1918. in view of the principle laid down by the federal court in this decision we are opinion that in the circumstances of the present case the ..... not on the contents of his bond but on the directions of the decree. (see the decision in jagannath prosad singh chowdhury v. surajmul jalal) . by act 21 of 1929, order 34 of civil procedure code was amended and a new rule 11 was inserted which deals specially with interest and which states : '11. in any ..... practice as mentioned in flatt v. mandal, 1884 27 ch d 246 and daniel's chancery practice. but having regard to the provisions of the transfer of property act and the present civil procedure code, the indian practice is quite different. the distinction has been pointed out by fugh, j., in sarat chandra roy chowdhry v. m. ..... further costs, charges and expenses as may be payable under rule 10.' 6. this rule further amended by the code of civil procedure amendment act, 1956, but we are not concerned with this further amendment in the present case. it is apparent that the new rule 11 as inserted by the ..... amending act 21 of 1929, provides that the court 'may' order payment of interest to the mortgagee up to the date fixed for payment at the rate .....

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Dec 03 1968 (SC)

M. Manickchand and ors. Vs. Elias Saleh Mohamed Sait and anr.

Court : Supreme Court of India

Decided on : Dec-03-1968

Reported in : AIR1969SC751; (1969)1SCC206; [1969]2SCR1061

..... a direction specifically reserving for consideration at the time of the final decree proceedings all questions relating to accounting as well as reliefs claimed under the usurious loans act, no. 10 of 1918 (hereinafter referred to as 'the act'). 3. both parties appealed against this preliminary decree in the high court of mysore. the appeal of the plaintiffs was confined to reliefs nos. 2 and ..... all laws in force in the state of mysore were to apply to the retroceded area. consequently, with effect from 15th august, 1948, the act ceased to be operative in this area and, instead, the usurious loans act, 1923 (mysore act 9 of 1923), became operative in it. subsequently however, the state of mysore acceded to india after the constitution and, from the date of ..... accession, the act again became applicable, because this area became a part of india. this was the legal position in this area during the various periods ..... submission made on behalf of the respondents that the present suit is a suit for redemption of a security given after the commencement of the act in respect of a loan made after the commencement of the act. this decision of the high court is challenged on two grounds on behalf of the appellants. one is that the suit is not a suit .....

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Sep 16 1968 (HC)

Manohar Lal Ganeshi Lal and anr. Vs. Ganeshi Ram Pohla Ram and ors.

Court : Punjab and Haryana

Decided on : Sep-16-1968

Reported in : AIR1970P& H152

..... mr. gupta was that a judgment-debtor is doubtlessly not entitled to invoke the provisions of section 3 of the usurious loans act (10 of 1918) as amended by section 5 of the punjab relief of indebtedness act (7 of 1934). in a case where the grant of relief under that provision would affect any decree of ..... months of the previous decree made the decree non-existent for purposes of the second proviso to sub-section (1) of section 3 of the usurious loans act. the relevant proviso does not say that it is only an executable decree the effecting of which would bar the availability of relief under the purview ..... boards as the same are not relevant for purposes of deciding this appeal. the relief available in the civil courts of punjab under section 3 of the usurious loans act is subject to proviso (i) and proviso (ii) to sub-section (1) of that section. this case falls squarely within proviso (ii). nor ..... of a court' is affected.the expression 'any decree of a court' in proviso (ii) to sub-section (1) of section 3 of the usurious loans act applies, in my opinion, as much to a consent decree as to a decree passed in a contested action. this is in contradistinction to the provisions or ..... expressly barred by the very provision which the appellants seek to invoke for getting the relevant relief. what the relevant part of section 3 of the usurious loans act says is that the court shall not reopen any transaction or grant any relief under subsection (1) of section 3 where bv doing so 'any .....

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Nov 27 1968 (HC)

Laxmi Chand Gangaram Vs. Brijbhushandas and ors.

Court : Madhya Pradesh

Decided on : Nov-27-1968

Reported in : AIR1970MP34; 1969MPLJ256

..... date of redemption in all circumstances, if there be no question of the rate being penal, excessive or substantially unfair within the meaning of the usurious loans act. 1918.' his lordship further observed:--'of course, whether the court would or would not give relief in respect of interest in excess of nine per centum simple ..... the madhya bharat interest act interest can be charged at the rate of 6% per annum on the secured debts. we are of the opinion that having ..... that act was repealed by the madhya bharat interest act, 1956, which came in force on august 18, 1956.9. that the defendant is earning rents of houses under the mortgages was a ground to be considered against him rather than as one in his favour. under the madhya pradesh money lenders act, the usurious loans act and ..... to the provisions of any law the rate must be reduced. the court can have regard to the length of litigation, the nature of the loan and other circumstances of the particular case. where rate of interest is fixed as one of the terms of the mortgage, the discretion must be ..... contract of mortgage.4. after the decision of the privy council the present rule 11 in order 34 of the code of civil procedure was enacted by act no. 21 of 1929. this rule makes a clear distinction between two periods: (i) from the date of the suit upto the dateof redemption; .....

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Dec 03 1968 (SC)

K. Manickchand and ors. Vs. Elias Saleh Mohamed Sait and ors.

Court : Supreme Court of India

Decided on : Dec-03-1968

Reported in : AIR1969SC671; (1969)1SCC52; [1969]2SCR1082

..... rate, it is true that, under the mortgage-deeds, the interest was payable @ 1% per mensem; but, under the provisions of the act read with the provisions of the usurious loans act (mysore act dc of 1923), the fair interest payable on the loan would be @ 9 per cent per annum and it is at this rate that the interest must be calculated on this principal ..... the second mortgage-deed. the high court, thus, worked out the aggregate of rs. 37,971/50p as the principal amount of the two loans advanced under these two mortgage-deeds and, applying section 17 of the act, granted a decree for this amount as principal together with the same amount interest. the high court further held that this would be the ..... account in working out the maximum amount of interest permissible under section 17 of the act. the expression 'the principal of the original loan' makes it clear that, in determining the maximum amount of arrears of interest allowable, the court must go behind the transaction of the loan and find out what was the actual cash originally advanced as principal and ignore all ..... , 1952, after applying the provisions of section 17 of the mysore money lenders act no. 13 of 1939 (hereinafter referred to as 'the act'). for the purpose of giving effect to the. provisions of section 17 of the act, the trial court held that the principal amount of the two loans was rs. 44,000/-, being the aggregate of the consideration shown in the .....

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Aug 26 1968 (HC)

Jeevraj and anr. Vs. Lalchand and ors.

Court : Rajasthan

Decided on : Aug-26-1968

Reported in : AIR1969Raj192

..... a suit based on the latest acknowledgment without the court having inquired into the true nature of the transaction. the general law contained in the usurious loans act is not always enough to afford protection. conditions in india are by no means the same as in england.'the above passage shows how ..... business in our country is notunknown. the legislature is bringing out laws to relieve the debtors of usurious loans and excessive interest. in the case of agriculturist, under the rajasthan relief of agricultural indebtedness act even the decrees of the courts are required to be reopened to find out the actual amount ..... for money lent and the period of limitation is to be computed from the date when the loan is made. article 20 of the new act, which corresponds to article 58 of the old act contemplates suits similar to the one envisaged in article 59 when the lender has given a cheque ..... ) where the writing containing theacknowledgment is undated, oral evidencemay be given of the time when it wassigned; but subject to the provisions ofthe indian evidence act, 1872, oral evidence of its contents shall not be received. explanation i. for the purposes of this section an acknowledgment may be sufficient though it ..... on demand. in this case, three years' period is to be computed from the date when the loan is made. article 22 of the newact, which corresponds to article 60 of the old act, contemplates a suit for money deposited under an agreement that it shall be payable on demand. in this .....

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Nov 03 1968 (SC)

K. Manick Chand and ors. Vs. Elias Saleh Mohammed Sait and ors.

Court : Supreme Court of India

Decided on : Nov-03-1968

Reported in : (1969)1SCC52a

..... is true that under the mortgage-deeds, the interest was payable @ 1 per cent. per mensem; but under the provisions of the act, read with the provisions of the usurious loans act (mysore act ix of 1923), the fair interest payable on the loan would be 9 per cent. per annum and it is at this rate that the interest must be calculated on this principal ..... the second mortgage-deed. the high court, thus, worked out the aggregate of rs. 37,971. 50p. as the principal amount of the two loans advanced under these two mortgage-deeds and, applying section 17 of the act, granted a decree for this amount as principal together with the same amount as interest. the high court further held that this would be ..... account in working out the maximum amount of interest permissible under section 17 of the act, the expression 'the principal of the original loan' makes it clear that, in determining the maximum amount of arrears of interest allowable, the court must got behind the transaction of the loan and find out what was the actual cash originally advanced as principal and ignore all ..... , 1952, after applying the provisions of section 17 of the mysore money lenders act no. 13 of 1939 (hereinafter referred to as 'the act'). for the purpose of giving effect to the provisions of section 17 of the act, the trial court held that the principal amount of the two loans was rs. 44,000/-, being the aggregate of the consideration shown in the .....

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Mar 06 1968 (FN)

Volkswagenwerk Ag Vs. Fmc

Court : US Supreme Court

Decided on : Mar-06-1968

..... was greatly expanding its role in labor relations. the nira and nlra greatly revived unionism among both seamen and longshoremen, in addition to workers in other industries. those acts guaranteed the right of collective bargaining, and offered a means for recognition of unions; the unions gained members and strength. and with stronger unions, collective bargaining became more ..... the obvious need for the employers involved to agree on collective policy, must invariably have competitive effects. the signatories to a collective bargaining agreement are frequently, by the very act of signing, agreeing with their own competitors on matters such as labor costs, certain nonlabor costs, services to be provided to the public, and (indirectly) price increases ..... 2) with american shippers, railroads or other transportation agencies." alexander report, at 419-420. nothing in the legislative history suggests that congress, in enacting 15 of the act, meant to do less than follow this recommendation of the alexander report and subject to the scrutiny of a specialized government agency the myriad of restrictive agreements in the ..... dissents. [ footnote 12 ] the court of appeals for the district of columbia circuit affirmed, [ footnote 13 ] and we granted certiorari to consider important questions under the shipping act. [ footnote 14 ] i the petitioner's primary contention -- supported by the united states, a party respondent -- is that implementation of the association's formula for levying the mech .....

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Jun 10 1968 (FN)

Maryland Vs. Wirtz

Court : US Supreme Court

Decided on : Jun-10-1968

..... for the states spend billions of dollars each year on programs that purchase goods from interstate commerce, hire employees whose labor strife could disrupt interstate commerce, and act on such commerce in countless subtle ways. if constitutional principles of federalism raise no limits to the commerce power where regulation of state activities are concerned, could ..... identified plaintiffs and defendants. questions of state immunity are therefore reserved for appropriate future cases. appellants' remaining contention presents similar problems. in order to be covered by the act, an employer hospital or school must, in fact, have "employees engaged in commerce or in the production of goods for commerce, including employees handling, selling, or ..... footnote 26 ]" indeed, appellants do not contend that labor conditions in all schools and hospitals are without the reach of the commerce power, but only that the act may not be constitutionally applied to state-operated institutions because that power must yield to state sovereignty in the performance of governmental functions. this argument simply is not tenable ..... sets of amendments to the original enactment. in 1961, congress changed the basis of employee coverage: instead of extending protection to employees individually connected to interstate commerce, the act now covers all employees of any "enterprise" engaged in commerce or production for commerce, provided the enterprise also falls within certain listed categories. [ footnote 4 ] in .....

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