SC, Section 34 CPC Empowers Court to Decide Interest Rate in Absence of Agreement: Case of IK Merchants Pvt Ltd vs State of Rajasthan, SC Judgement Dated 01st April 2025. The apex court held that in the absence of any agreement or contract, provisions of Section 34 of the Code of Civil Procedure empowers court to determine appropriate interest rate. Accordingly, interest determined @6% per annum till date of decree and 9% per annum till date of realization on enhanced value to shares. (SC Judgement Dated 01/04/2025)