commercial transaction Archives

Parties cannot challenge agreed interest rate

Parties agreeing to rate of interest cannot later challenge it on ground of public policy: SC upholds 36% interest in BPL-Morgan Securities and Credits case

BPL Ltd., having knowingly entered into the bill discounting agreement, was bound by its terms. Since it defaulted on repayment for years, the stipulated 36% compound interest could not be considered burdensome or oppressive.

Arbitral award to TCS over cancelled exam

Case Briefs High Courts

Bombay High Court upholds arbitral award granting Rs 5.37 crore to TCS over cancelled recruitment examination

“The UPLA Secretariat terminated the agreement with TCS in 2016, citing anomalies in another examination conducted by TCS for the Railway Recruitment Board.”

Case Briefs High Courts

No public interest involved in distributorship decision amidst land ownership dispute; Calcutta High Court upholds LPG distributorship grant

Calcutta High Court held that when a decision involves a commercial transaction, it is primarily governed by commercial considerations not any public interest.