Supreme Court of India
O.N.G.C. and Anr. v. Assn. of Natural Gas Consuming Inds. and Ors.
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1 Supreme Court bench has cited this judgment.
What the Court ordered
For the aforesaid reasons, we allow these application and hold that the B O.N.G.C. is entitled to claim interest from the respondents at the rate specified iri clause 5 of the erstwhile agreements but the cases of respondents - Sarabhai Comon Services and Alembic Chemicals Ltd. (now known as "Alembic Ltd.") are dealt with separately and are adjourned by eight weeks.
Judgment, page 8
From the headnote
Contract Act, 1872 Interest-Contracts for supply of natural gas-Agreement clause stipulating rate of interest on delayed payment-Expiry of contract-Demand for enhanced price for renewal of contract-High Court by in/erim order directing continuation of supply of gas at the existing rate-Subsequently, Supreme Court upholding the demand for enhanced price-Suppliers claim for interest on delayed payment of the principal amount-Entitlement of- Held, in view of the interim order of Court, the contract between the parties . and terms thereunder were Impliedly renewed-Thus, supplier entitled to claim
Where later benches applied it
Of those, 1 referred to
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