Supreme Court of India
State Trading Corporation of India Ltd. v. M/s Global Steel Holding Limited & 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 view that the respondents are liable to pay Interest on the principal sum of Rs.1610 crores to the appellant at rate of 8% per annum payable from 10.11.2012, i.e. when the entire payment became due.
Judgment, page 6
From the headnote
Constitution of India: Arts 142 and 136 – Extra-ordinary jurisdiction – Exercise of – Jurisdiction of this Court to decide the limited issue of payment of interest where award amount has already been paid – Held: There is no legal impediment in deciding the issue of payment of interest and its rate when the parties have requested for termination of the proceedings, and outstanding dues have already been cleared by the respondents-judgment-debtors during the pendency of this appeal leaving only a limited issue regarding payment of interest – Issuance of direction to the respondents to pay…
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