Supreme Court · 2004 INSC 584 · Decided 7 October 2004
Allahabad Bank ETC. ETC. v. Bengal Paper Mills CO. LTD. and ORS. ETC.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 584 · [2004] SUPP. 5 S.C.R. 143
- Case number
- CIVIL APPEAL No. 4191/1991
- Decided
- 7 October 2004
- Bench
- R.C. LAHOTI, G.P. MATHUR, P.K. BALASUBRAMANYAN (3-judge bench)
- Case type
- Civil
- Acts & sections cited
- CPC; Contract Act Section 65, 70, 72
Headnote
A B Winding up of Company-Purchase of assets thereof-After a round of C litigation sale set aside by Supreme Court on the ground of consideration being inadequate-Purchaser in possession of the assets for 10 years-Direction for refund of purchase price-Demand of interest thereon-Refusal by order clarifj;ing interest on purchase price-Held: In view of principle embodied in Order XX! Rule 93 CPC, the Court in exercise of its discretion had refused to award interest on D the purchase price-Even on principle of restitution claim would not succeed as there was no failure of consideration
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