SOLIDAIRE INDIA LTD. vs FAIRGROWTH FINANCIAL SERVICES LTD.

The Supreme Court upheld the decision of the Special Court regarding the recovery of a loan amounting to Rs. 1 crore, along with interest claimed at rates of 21.5% and 23% on different portions of the loan. The Court found no infirmity in the Special Court's conclusion that the appellant was liable for the claimed interest, despite the appellant's contention that the interest should not exceed 18%. Additionally, the Court ruled that proceedings under the Special Court Act could continue despite the appellant's status under the Sick Industrial Companies (Special Provisions) Act, 1985, as the latter is a special Act with provisions that do not conflict with the Special Court Act.