The Supreme Court of India, on Tuesday, dismissed an appeal challenging an arbitral award that directed the payment of interest at the rate of 24% per annum. The Apex Court held that in purely commercial transactions, a high rate of interest does not automatically violate public policy, nor does it fall foul of the Usurious
Usurious Loans Act Cannot Override Arbitration Act Powers: SC Upholds 24% Interest in Commercial Arbitration Award
