Supreme Court of India
Snehadeep Structures Pvt. Limited v. Maharashtra Small Scale Industries Development Corporation Ltd.
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.
What the Court ordered
In view of the aforesaid position, we do not find any good ground and reason to interfere with the conclusion in the impugned judgment passed by the Division Bench of the High Court, setting aside the arbitral award dated 30.06.2003.
Judgment, page 7
From the headnote
Issue for Consideration High Court whether justified in setting aside the arbitral award and holding that Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDCL) cannot be said to be a buyer within the meaning of Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 and therefore, the appellant (SSPL) was not entitled to claim interest under the 1993 Act against MSSIDCL; whether the proviso to s.3, 1993 Act would be applicable to the agreement in question entered into between the parties on 30.03.1995, albeit the proviso was enacted and
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