Should Money Related litigation benifit only the wrong doers?
A number of laws in India says that Court may grant 6% per annum interest for period during which such litigation is pending.
Now this benefits only the wrong doers. The insurance companies, banks, institutes or other private borrowers are encouraged to deny or to delay rightful dues to citizens.
Aggrieved party will have to go to Court and after years of litigation, he may get only 6% interest for the period during which such case is pending. Sometimes 7.5% and sometimes 9℅ interest is given.
Whereas this very person may have to pay 40% annual bank interest including all other charges, if he borrowed any personal loan.
The Laws here appear to be loaded in favour of wrong doers who deny or delay payments due to common citizens. Many cases are therefore prolonged in courts due to one sided laws.
