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Legislation

Usurious Loans Act, 1918

3 Supreme Court judgments cite this Act.

SECURITIES AND EXCHANGE BOARD OF INDIAversusSHRI KANAIYALAL BALDEVBHAI PATEL

2017 INSC 96320 September 2017Disposed off

The Supreme Court examined whether non‑intermediary front‑running—where a person receives confidential information about a forthcoming large block trade and trades ahead of it—constitutes a prohibited fraudulent or unfair trade practice under SEBI’s Prohibition of Fraudulent and Unfair Trade Practices Regulations, 2003

M/S SUNEJA TOWERS PRIVATE LIMITED & ANR.versusANITA MERCHANT

2023 INSC 39118 April 2023Appeal(s) allowed

Anita Merchant booked three flats from Suneja Towers Private Limited, paid 60% of the price, but the builder failed to deliver possession even after the agreed period, leading her to file consumer complaints. The District Forum dismissed the complaints, but the State Consumer Commission reversed the decision, ordering

JAYANT VERMA & ORS.versusUNION OF INDIA & ORS.

2018 INSC 15916 February 2018Directions issued

The petition challenged the constitutional validity of Section 21A of the Banking Regulation Act, 1949, which bars courts from reopening bank loan transactions on the ground of excessive interest. The petitioners argued that the provision violated Article 14 and undermined State Debt Relief Acts that provide relief to

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