https://www.taxtmi.com/caselaws?id=752629 The SC dismissed an appeal regarding interest on delayed payments to small scale industrial undertakings. The case involved a contract between MSSIDCL and SSPL where payment was contingent upon delivery acceptance by MSEB and subsequent payment receipt by MSSIDCL. The court examined whether the proviso to Section 3, which established a 120-day payment limit from acceptance, applied to a contract executed in 1995 when the proviso was enacted in 1998. The SC upheld the HC Division Bench's decision setting aside the arbitral award, finding no grounds to interfere with the judgment. en-us Tue, 05 Mar 2024 00:00:00 +0530 Wed, 15 May 2024 09:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752629 The SC dismissed an appeal regarding interest on delayed payments to small scale industrial undertakings. The case involved a contract between MSSIDCL and SSPL where payment was contingent upon delivery acceptance by MSEB and subsequent payment receipt by MSSIDCL. The court examined whether the proviso to Section 3, which established a 120-day payment limit from acceptance, applied to a contract executed in 1995 when the proviso was enacted in 1998. The SC upheld the HC Division Bench's decision setting aside the arbitral award, finding no grounds to interfere with the judgment. Case-Laws Companies Law Tue, 05 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752629