Supreme Court of India
Sudharshan Trading Company Ltd. v. Official Liquidators and 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.
What the Court ordered
We are of the opinion that the D Company was liable to pay interest at the rate of 25% even on the deposit of Rs. 5 Lakhs.
Judgment, page 3
From the headnote
Companies Act, 1956 : Sections 391, 433, 434, 439, 44!r-Subsidiary Company· conducting Chits-Default i11 payment to subscriber.-lJirections given. This Court by its judgment dated 14.5.1993*, while deciding the dispute in respect or a Chit Fund, between the appellant holding company and Its subsidiary company, on the one hand, the Subscribers' Association on the other, gave certain direcUons. The Subscribers' Association filed c the Interim" application alleging non-compliance or some or the direcUons.
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