Case Law Analysis
|Gauhati High Court
Section 34 CPC | 6% Statutory Interest Cap Applies to SARFAESI Bid Refunds Absent Contractual Agreement : Gauhati HC
Gauhati HC reaffirms that Section 34 CPC limits interest on delayed refunds of auction bid amounts to 6%, even after a seven-year delay, unless parties agree otherwise. The ruling underscores the statutory cap's applicability in SARFAESI proceedings, impacting banks and bidders in recovery disputes.