Punjab & Sind Bank vs M/S Allied Beverages Company P.L.& Ors

The Supreme Court addressed the appeals against the Delhi High Court's modification of the Debts Recovery Tribunal's order regarding interest rates under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Court held that the High Court's reduction of pendente lite and future interest from 18% to 14% p.a. was justified, emphasizing the need for fair interest rates in financial recovery cases. The judgment upheld the principle that interest rates should reflect the nature of the financial agreement and the circumstances of the default.