Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Case Disposed Off |
Headnote | Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993: Applicability of the '1 Act - The Act came into effect on 23. 9. 1992 - Suit filed on c 31.10.1991 - Held: The 1993 Act not applicable as cause of action took place prior to 23. 9. 1992 - The plaintiff is entitled to rate of interest in accordance with the provisions of s. 34 iCPC and not in accordance with 1993 Act - Code of Civil Procedure, 1908 - s. 34. Respondent supplied goods to the appellant. AppellantĀ· failed to pay the bill amount. Respondent filed suit on 31.10.1991 clairring the bill amount along with interest @ 18% p.a. till date of suit. During pendency of suit, Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 came into force. Respondent amended the plaint and claimed interest @ 24% p.a. from 1.11.1991 to 22.9.1992 and 2% per month compounded with monthly rest from 23.9.1992 till actual date of realization. |
Judge | Hon'ble Mr. Justice Mukundakam Sharma |
Neutral Citation | 2009 INSC 207 |
Petitioner | M/s. Rampur Fertiliser Ltd. |
Respondent | M/s. Vigyan Chemicals Industries |
SCR | [2009] 2 S.C.R. 650 |
Judgement Date | 2009-02-18 |
Case Number | 1101 |
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