Supreme Court of India
M/s. Modern Industries v. M/s. Steel Authority of India Ltd. Th. M.D. & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the supply order having been placed herein prior to the coming into force of the Act, any supply made pursuant to the said supply orders would be governed not by the provisions of the Act but by the provisions of Section 34 CPC. MODERN INDUSTRIES v.
Judgment, page 31
From the 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 and the purpose of the Act is to ensure that buyer promptly pays the amount due towards the goods supplied 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 the object
Where later benches applied it
- 2012 M/s Purbanchal Cables & Conductors Pvt. Ltd v. Assam State Electricity Board & Another
- 2016 M/s Shanti Conductors (p) Ltd. Anr. v. Assam State Electricity Board & Ors.
Of those, 1 relied on · 1 referred to
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