Supreme Court · 2009 INSC 885 · Decided 7 July 2009
M/S. Shakti Tubes LTD. v. State of Bihar & ORS.
- Court
- Supreme Court of India
- Citation
- 2009 INSC 885 · [2009] 10 S.C.R. 739
- Case number
- CIVIL APPEAL No. 172/2007
- Decided
- 7 July 2009
- Bench
- MUKUNDAKAM SHARMA, B.S. CHAUHAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- CPC Section 34; Constitution Article 136; Contract Act Section 62; Companies Act
Headnote
Interest on Delayed Payment to Small Scale Industries Act, 1993 - ss.4 and 5 - Contract for supply of pipes - Pipes c supplied - But certain amount remained payable to appellant- supplier- Money suit filed by appellant decreed by Trial Court with interest compounding at monthly rest@ 24% p.a. - the rate to simple interest @ 9% p.a. - Challenge to - Appellant sought payment of interest at higher D rate and compoundable interest in terms of ss.4 and 5 of the 1993 Act- Held: Since the supply order was placed prior to coming into force of the Act, appellant not entitled to benefit under
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