462+ Lawyers are online 
CHARGING OF EXORBITANT RATE OF INTEREST ACT ENACTED BY THE GOVT
16-May-2023 (In Tax Law)
M/S Rajesh Export U/S 177,415 &420. Under Income Tax & DRI Department Since the SSI I was running went under heavy loss I barrowed Rs 4000000 from RAJESH EXPORT LTD, through him and his associates by mortgaging my KSSIDC allotted industrial Shed in the year Novermber 2010. After that I have paid Rs 15.00 lakhs as interest, 40.00 lakhs even though I had no earnings. I sold all my just to pay when I realized my debts are increasing I decided to sell one part of the shed to clear my dues to Rajesh Export Ltd . When I went to their office to get statement of my dues to redeem my property I was given the statement which said that I had to do an RTGS transfer of money amounting to Rs 84.00 Lakhs. + 15. 00 Lakhs. As per the Notification No.CMW/04/CML/2003, dated 28-8-2003 of Karnataka Government, Now i want Justice .
Need to see the terms and conditions what you have agreed upon and kindly give the details of the debt amount you borrowed from the Vendor and what is the rate of interest need to be known primafacie you have grounds to comment of the hurdles. We need to see the agreements and other documents to give proper advise.
Helpful?
24+
24+
Adv. Malhararao
Bangalore | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Tax lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
