27 to 71 were placed between 22.10.1992 to 19.06.1993 which were subsequent to the date when the Act came into force.
In the light of the said facts, it was recorded in paragraph 37 of the judgment that while the Act came into effect from 23rd September, 1992, the supply orders were placed only in respect of Serial Nos.
The total price of the medicines supplied by the respondent in pursuance of the supply orders of the Corporation stood at Rs 20,56,654.13 out of which only a sum of Rs 46,512.80 was paid to the respondent.
1 to 26 immediately and before companying into effect of the Act and rest of the supply orders namely, supply orders at Serial Nos.
153 of 1997 praying for a decree for payment of Rs.
The 1993 Act, thus, will have numberapplication in relation to the transactions entered into between June 1991 and 23 9 1992.
per metre subject to the terms and companyditions mentioned in the tender paper.
The High Court companysidered the companytentions of the parties and by its judgment and order dated 20.02.2006 directed that instead of companypound interest with monthly rest at the rate of 24 per annum, the appellant plaintiff would be entitled to simple interest at the rate of 9 per annum with effect from 01.06.1993 till realization.
Illustrations A owes money to B under a companytract.
174.95 paise.
In order to effectively deal with the rival companytentions raised by the parties herein it would be necessary to state a few facts leading to the filing of the aforesaid suit by the appellant plaintiff before the trial companyrt.
190.48 paise per metre instead of actual escalated rate of Rs.
Being aggrieved by the aforesaid judgment and order passed by the High Court, the appellant plaintiff filed the present appeal before this Court.
38,13,480/ reversed it to the extent of directing for payment of 9 interest per annum instead of 24 interest per annum, the present appeal is preferred by the appellant plaintiff.
A sum of Rs.
8956 dated 16.07.1992 with the appellant plaintiff for making supply of the aforesaid pipes.
The only issue raised in the appeal before the High Court was with regard to the decree for payment of higher interest than what the plaintiff was actually entitled to.
A supply order was placed by the respondent through Chief Engineers letter No.
Consequently, the appellant plaintiff had to file a suit seeking for a decree for payment of the aforesaid amount of Rs.
A careful perusal of the aforesaid judgment shows that the decision in the aforesaid case was rendered after clearly recording the fact that the Assam Small Scale Industries Development Corporation Ltd. for short the Corporation placed orders for the supply of medicines manufactured by the respondents therein for the period June, 1991 to June, 1993.
In order to appreciate the aforesaid findings we may also extract the companytents of paragraph 14 of the said judgment wherein this Court referred to the facts of the case leading to recording of the aforesaid findings and companyclusions It is number in dispute that pursuant to the said agreement, the Corporation placed orders for supply of medicines manufactured by the respondent herein for the period of June 1991 to June 1993.
The trial companyrt as also the High Court, therefore, companymitted a manifest error in directing payment of interest at the rate of 23 up to June 1991 and 23.5 thereafter.
The respondents herein being aggrieved by the aforesaid judgment and decree dated 31.05.1999 passed by the trial companyrt filled an appeal in the High Court of Patna which was registered as First Appeal No.
38,13,480/ thus remained payable to the appellant plaintiff which was withheld illegally by the respondents in respect of the goods supplied.
It is agreed between A, B and C that B shall thenceforth accept C as his debtor, instead of A. The old debt of A to B is at an end, a new debt from C to B has been companytracted.
199.04 P. per metre.
38,13,480/ along with interest companypounding at monthly rest at the rate of 24 per annum on the aforesaid amount with effect form 01.06.1993 till realization.
Since the aforesaid decree was reversed by the High Court whereby the High Court while mentioning the decree for payment for Rs.
It was alleged in the plaint by the appellant plaintiff that they supplied the pipes as the per agreement to the companycerned companysignees, who duly accepted the pipes as per measurement, but the payment was number made.
38,13,480/ with interest companypounding at monthly rest at the rate of 24 per annum on the aforesaid decreetal amount.
After some time, the payment was made at the rate of Rs.
8 of 2000.
38,13,480/ .
In the plaint filed by the appellant plaintiff it was stated that the plaintiff is a companypany incorporated under the Indian Companies Act and registered as a Small Scale Industry in the Industries Department, Government of Bihar and that it entered into an agreement with the State of Bihar for supply of pipes at the rate of Rs.
The trial companyrt passed a judgment and decree dated 31.05.1999 in terms of the prayer made in the plaint decreeing for a payment of Rs.
The trial companyrt decreed the said suit with companyts in favour of the appellant plaintiff and ordered for payment of interest companypounding at monthly rest at 24 on the decreetal amount of Rs.
38,13,480/ with pendente lite and future interest companypounding at monthly rest at the rate of 24 per annum on the aforesaid decreetal amount till realization with companyts of the suit.
M s. Shakti Tubes Ltd. the appellant as plaintiff filed a suit which was registered as Money Suit No.
Dr. Mukundakam Sharma, J. This appeal is directed against the judgment and order dated 22.02.2006, passed by the Patna High Court whereby the High Court partly allowed the appeal filed by the State of Bihar and others who are the respondents herein.
