Interest Act, 1978

This comprehensive edition consolidates the Interest Act, 1978 into a single, practical reference for legal and financial professionals. The Act establishes the statutory framework for computing interest on loans, advances, and other financial obligations, including conditions for default and penalty interest. This edition provides the complete text, enriched with commentary that explains legal obligations for lenders and borrowers, the method of calculating interest, enforcement mechanisms, and dispute resolution principles. Practical examples, interpretative notes, and case references simplify the understanding of complex provisions, making this book an indispensable tool for bankers, financial institutions, corporate compliance teams, lawyers, and students of commercial law. The volume helps readers accurately apply statutory rates, calculate interest claims, and navigate legal obligations effectively. Whether used in court proceedings, corporate finance operations, or advisory roles, this edition bridges the gap between statutory law and practical application.