In Brief
The Board of Trustees for the Port of Calcutta appealed a High Court judgment that had granted 36 installments for payment of rent arrears at 6% per annum interest. The appellant contended interest should be 15-18% under the Major Port Trusts Act, 1963. The Supreme Court set aside the High Court's interest rate determination but, invoking Article 142 to finalize the long-pending dispute, held that no further interest would be levied beyond what the respondents had already paid. The Court clarified this order was case-specific and not a precedent.
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