NARESH BHUTANI vs M/S. A.G.CHIT FUND AND FINANCE CO.

The Supreme Court upheld the orders of the High Court and the Commercial Civil Judge, affirming the decree against the appellant under Order 37 of the Code of Civil Procedure. The appellant's argument regarding the non-registration of the respondent, a Chit Fund Company, was rejected, as it did not affect the maintainability of the suit. The Court modified the interest rate from 18% to 12%, dismissing the appeal with no order as to costs.