https://www.taxtmi.com/caselaws?id=300056 The court ruled in favor of the plaintiffs, ordering the defendants to pay the principal amount along with the contractual interest rate of 30% per annum. The defendants' defenses were deemed lacking credibility, with the court dismissing their objections as attempts to avoid payment rather than genuine disputes. The court allowed simultaneous pursuit of civil suit and company petition, emphasizing the distinct purposes of both remedies. Non-compliance could result in an exparte decree, underscoring the importance of meeting payment obligations as per contractual terms. en-us Thu, 16 Jul 2015 00:00:00 +0530 Tue, 11 Jan 2022 08:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300056 The court ruled in favor of the plaintiffs, ordering the defendants to pay the principal amount along with the contractual interest rate of 30% per annum. The defendants' defenses were deemed lacking credibility, with the court dismissing their objections as attempts to avoid payment rather than genuine disputes. The court allowed simultaneous pursuit of civil suit and company petition, emphasizing the distinct purposes of both remedies. Non-compliance could result in an exparte decree, underscoring the importance of meeting payment obligations as per contractual terms. Case-Laws Companies Law Thu, 16 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300056