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Supreme Court of India

M/s Purbanchal Cables & Conductors Pvt. Ltd v. Assam State Electricity Board & Another

Neutral citation
Reported as [2012] 6 S.C.R. 905
Bench H.L. Dattu and Anil R. Dave JJ.
Decided 10 July 2012

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.

5 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the opinion that a pronouncement of law by a Division Bench of this Court is binding on a Division Bench of the same or a smaller number of Judges, and in order that such decision be binding, it is not necessary that it should be a decision rendered by the Full Court or a G Constitution Bench of the Court

Judgment, page 51

From the headnote

INTEREST ON DELA YEO PAYMENT TO SMALL SCALE AND ANCILLIARY INDUSTRIAL UNDERTAKINGS ACT, 1973: Suit for interest on delayed payment - Held: Is maintainable - Supplier may file a suit only for a higher rate of interest on delayed payments made by the buyer from the commencement of the Act. Prospective operation of the Act - Held: The Act is a substantive law, as vested right of entitlement to a higher rate of interest in case of delayed payment accrues in favour of the supplier and a cormsponding liability is imposed on the buyer - Any substantive law shall operate prospectively unless

Authorities it was built on

Where later benches applied it

Of those, 2 relied on · 1 distinguished · 2 referred to

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