AIR 1925 CALCUTTA 268(2) ::1925 (29) Cal WN 118

Calcutta High Court

Hon'ble Judge(s): N. R. Chatterjea, Graham , JJ

Civil P.C. (5 of 1908) , S.34— Interest on mortgage is payable at contract rate pendente-lite unless rate is excessive or transaction unfair - Usurious Loans Act, S. 3 - Civ. Pro. Code, O. 34, R. 2. Unless the Court finds that the rate of interest stipulated in the contract is excessive or that the transaction is substantially unfair, the Court is bound to award to a mortgagee interest at the contract rate during the period the suit has been pending and up to the date fixed for payment.