GHULAM NASEER versus HOUSE BUILDING FINANCE CORPORATION
The House Building Finance Corporation Act, 1952, did not disagree with the borrower's obligation to pay the compound interest on the loan charge of the borrower, the actual amount or interest at the rates indicated in the mortgage process, but on the letter of approval of the loan. Challenged the corporation's demand for an additional interest rate. As mortgage work was not provided for interest on the loan at the compound base, the corporation's demand for payment of compound interest was, unequivocally and unstable in law.
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