H.P.STATE FIN.CORPN. vs PREM NATH NANDA — C.A. No. 441/1999

Case Summary: H.P. State Financial Corporation v. Prem Nath Nanda (C.A. 441/1999) The Supreme Court reversed the High Court's order directing payment of 13% interest on excess funds realized from the sale of the respondent's hotel unit. The Court held that absent a contractual agreement or statutory provision, the respondent had no right to claim interest, and the High Court failed to provide any equitable grounds justifying such payment. This case analysis is maintained by casestatus.in based on publicly available court records.