If there is stipulation for the rate of interest the court must allow the rate upon the date of the ...........

Civil Procedure Code (CPC) 1908 Jurisdiction of Civil Courts

If there is stipulation for the rate of interest, the court must allow the rate upon the date of the suit, subject to which of the following exceptions?

Any provision of the law applicable to money lend¬ing transaction, or usury laws or any other debt law governing the parties and having an overriding effect on any stipulation for payment of interest voluntarily entered into between the parties

If the rate is penal, the court must award at such rate as it deems reasonable

Even if the rate is not penal, the court may reduce it if the interest is excessive and the transaction was substantially unfair

All of these

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Explanation:

- Option 1: This exception pertains to legal stipulations like usury laws. These laws may nullify any agreed interest rate that contradicts statutory limits.

- Option 2: If the agreed interest rate is penal (unreasonably high), the court may adjust it to a fair amount.

- Option 3: In cases where the interest is not penal but still excessive or tied to an unfair transaction, the court retains discretion to reduce the rate.

- Option 4: All of these exceptions apply, providing the court with flexibility to adjust interest rates based on fairness and legality.