Authority: High Court of Gujarat, Ahmedabad
Order Date: 04/08/2026
Case Overview
- Special Civil Application No.1468 of 2024 filed by M/S R.V. Traders (proprietor Mr. Ramniklal Hareshbhai Bagadiya) against the State of Gujarat & others, with Respondent No.2 being an unnamed bank.
- The petitioner sought a reduction of the interest rate payable on the bank loan from 16% to 10% and a waiver of the legal fees charged by the bank.
- Counsel for the petitioner: Mr. Harshil C. Dattani; for Respondent No.1 (State): Mr. Nikunj Kanara, AGP; for Respondent No.2 (Bank): Mr. Dipan Desai, appearing with Ms. Jeni Thakore.
- The proprietor appeared in court, acknowledged the bank’s demand notice and undertook to clear the outstanding dues no later than 31 January 2027.
Final Outcome
- Respondent No.2 Bank agreed to reduce the simple interest rate to 10% and to waive all legal expenses.
- The petitioner committed to settle the dues by 31‑01‑2027.
- The petitioner’s counsel sought and obtained permission to withdraw the petition; the court disposed of the matter as withdrawn, discharged the notice, and ordered no costs.
- The order was digitally signed by Rajnish Narendra Savariya, Principal Private Secretary, at 17:45:45 on 04/08/2026.
Topics: Interest Rate Reduction, Banking Litigation, Court Order