JUDGEMENT

R.M. Lodha, J. —

Leave granted.

2.Two main questions arise for consideration - first, as to the meaning of the expression, ‘amount due from a buyer, together with the amount of interest’ under sub-section (1) of Section 6 of the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (for short, ‘1993 Act’) and then, as to whether the Industry Facilitation Council (IFC) cannot go beyond the scope of interest on delayed payments upon the matter being referred to it by any party to dispute under sub-section (2) of Section 6.

3.M/s. Modern Industries, Rourkela (for short, ‘supplier’) got an order from the Steel Authority of India Limited - Rourkela Steel Plant (for short, ‘buyer’) on January 15, 1983 for manufacture of Right Manipulator Side Guard. The order value was Rs. 8.19 lakhs. Inter alia, the terms and conditions of the order were : (i) the job should be done exactly as specified in the drawings; (2) the alignment of bearing housings be made by the supplier and for this purpose, a spare shaft assembly would be issued against indemnity bond for checking the perfect alignment and free rotation of the shaft ; (3) the essentiality certifica