Supreme Court · 2010 INSC 208 · Decided 15 April 2010
M/S. Modern Industries v. M/S. Steel Authority of India LTD. TH. M.D. & ORS.
- Court
- Supreme Court of India
- Citation
- 2010 INSC 208 · [2010] 4 S.C.R. 560
- Case number
- CIVIL APPEAL No. 3305/2010
- Decided
- 15 April 2010
- Bench
- R.V. RAVEENDRAN, RAJENDRA MAL LODHA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993: s. 6(1) and (2) - Object and purpose of - Expression 'amount due from a buyer', followed by expression 'together with the amount of interest' u/s 6(1)- Interpretation of- Held: Object of the Act is to ensure that buyer promptly pays the amount due towards the goods supplied D or services rendered by the supplier - It also provides for payment of interest statutorily on the outstanding money in case of default- Said expression must be interpreted keeping in mind the purpose and
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)