90,48,631/ was paid without much ado and thereafter a further sum of Rupees 48,73,865/ on 12th December, 1996 was paid pursuant to the order dated 5th November, 1996, it will be in fitness of things that there should be some companycession in the rate of interest.
After numberifying Dhanraj Mills Private Limited, a public numberice was issued on 10th September, 1992 by the Custodian calling upon all debtors of numberified parties to inform the Custodian the amounts due by them to the numberified party and to pay the same to the Custodian.
90,48,631/ along with interest at the rate of 24 per cent per annum from 1st April, 1992 till 9th December, 1994.
Subsequently on 6th January, 1997, the Special Court clarified a mistake which had been companymitted in its original order of 5th November, 1996.
By order dated 5th November, 1996, the Special Court passed the decree against the appellant for a sum of Rs.
However, on 3rd August, 1994, letter was received by the appellant from the Custodian whereby the Custodian demanded an amount of Rs.
According to it, on 22nd February, 1993, it received summons from Income tax Department asking it to forward some documents relating to the transactions between the appellant and the numberified party.
190/95 was filed by the Custodian claiming interest at the rate of 24 per cent from the appellant herein.
90,48,631/ which was paid on 9th December, 1994 and this sum which was paid was to be adjusted first towards Interest and thereafter towards principal.
90,48,631/ was paid within the period of four weeks of the passing of the order, the decree would be marked as fully satisfied.
Under the provisions of the Special Court Trial of Offences Relating to Transactions in Securities Act, 1992, Dhanraj Mills Private Limited was numberified.
The appellant was also informed that in cases of belated payments the Special Court ordered payment of interest at the rate of 24 per cent.
It is number in dispute that on 9th September, 1994 a sum of Rs.
It was further stated that this payment would be without prejudice to further liabilities and it was mentioned that in an affidavit filed by Dhanraj Mills Private Limited the amount outstanding and due from the appellant was stated to be Rs.
The Custodian, by his letter dated 16th September, 1994, informed the appellant that a sum of Rs.
The rest of the order of 5th November, 1996 stood unamended except that the interest was to run till the date of payment.
Copies of the accounts between the parties were forwarded on 2nd March, 1993.
2 Dhanraj Mills Private Limited a sum of Rs.
Payment for interest at the rate of 24 per cent was reiterated by the Custodian.
In reply to the said letter, the appellant stated that according to its books of account, it is only a sum of Rs.
It was further stated that the appellant herein was to be given credit for the sum of Rs.
90,48,631/ was paid by the appellant into the account of the Custodian.
90,48,631/ may be deposited in the attached account of respondent No.
The appellant enquired as to how the payment was to be made to discharge its liability of Rupees 90,48,631/ .
95,58,631/ claimed by the custodian.
95,58,631/ stated to be outstanding and due from the appellant herein.
On 31st March, 1992, the appellant owed respondent No.
90,48,631/ which was due and number Rs.
The appellant did number make any payment.
90,48,631/ .
95,58,611/ .
