High Court of Gujarat
M/S PARIMAL BROTHERSversusSTATE OF GUJARAT
- Decided
- Disposal
- 27-WITHDRAWN @ ADM.STAGE
- Bench
- NIRZAR S DESAI
Holding
The petition was withdrawn and disposed of as withdrawn.
Summary
Petitioner M/s Parimal Brothers sought a reduction of the interest rate payable to a bank from 16% to 10% and a waiver of legal fees. The bank, through its counsel, agreed to reduce the interest rate to 10% and to waive the legal expenses. The proprietor of the petitioner firm confirmed that the bank's demand notice required payment of the outstanding dues by 31 January 2027. On the basis of this settlement, the petitioner’s counsel requested permission to withdraw the special civil application. The court granted the withdrawal, disposing the petition as withdrawn with no order as to costs.
Issues considered
- Whether the court can order a reduction of the contractual interest rate from 16% to 10% in a banking dispute
- Whether the court can direct the bank to waive legal fees charged to the petitioner
Subjects
- interest rate reduction
- legal fee waiver
- petition withdrawal
- banking dispute
- settlement
Judgment
C/SCA/1469/2024 ORDER DATED: 04/08/2026
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/SPECIAL CIVIL APPLICATION NO.1469 of 2024
=========================================
M/S PARIMAL BROTHERS & ANR.
Versus
STATE OF GUJARAT & ORS.
=========================================
Appearance :
MR HARSHIL C DATTANI for the Petitioners.
MR NIKUNJ KANARA, AGP for the Respondent No.1.
MR DIPAN DESAI for the Respondent No.2 & 3.
=========================================
CORAM:HONOURABLE MR. JUSTICE NIRZAR S. DESAI
Date : 04/08/2026
ORDER
Today, one Mr. Parimal Vrajlal Bagadia, Proprietor of
the Petitioner Firm is present in the Court and he is identi7ed by
learned advocate Mr. Harshil C. Dattani. He states that the rate of
interest that is required to be payable by the petitioner to the Bank
may be reduced from 16% to 10% and the respondent No.2 Bank
may be directed to waive the legal fees which has been charged
upon them.
2. Learned advocate Mr. Dipan Desai appearing with Ms.
Jeni Thakore for the respondent No.2 Bank, under instructions,
states that the simple interest rate payable by the petitioner would
be reduced from 16% to 10% and legal expenses would not be
charged by the Bank from the present petitioner.
3. In view of the above statement, the Proprietor of the
petitioner Firm who is present in the Court undertakes and makes
a statement before this Court that pursuant to the demand notice
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C/SCA/1469/2024 ORDER DATED: 04/08/2026
issued by the respondent No.2 Bank, the petitioner shall clear the
outstanding dues latest by 31.1.2027.
4. In view of the above, upon instructions received from
the Proprietor of the 7rm, learned advocate Mr. Harshil Dattani
seeks permission to withdraw this petition in view of the above
statement made by learned advocate Mr. Dipan Desai. Permission
as prayed for is granted. The petition stands disposed of as
withdrawn. Notice is discharged. No order as to costs.
(NIRZAR S. DESAI,J)
SAVARIYA
Original copy of this order has been signed by the Hon'ble Judge.
Digitally signed by: RAJNISH NARENDRA SAVARIYA(HC00179), PRINCIPAL PRIVATE SECRETARY, at High Court of Gujarat on 04/08/2026 17:46:04
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