The Company Judge is the appropriate forum for determining whether a creditor is entitled to interest where the company admits its liability and pays the principal amount.

( 1 ) THIS appeal is against the order dated 31. 1. 2005 passed by a learned Single Judge of this Court in C. A. No. 756 of 2004 arising out of C. P. No. 651 of 2001 whereby and whereunder he was pleased to direct that if the appellants have any further claim in respect of interest then they would be at liberty to take steps before the appropriate forum.

( 2 ) IN order to appreciate the arguments, it will be necessary to advert, very briefly, to the facts which are involved in this case. It appears that the appellants herein filed a winding up petition alleging that the respondent company was indebted to them to the extent of Rs. 14,81,239. 20/- on account of the balance price of the goods sold and delivered which, according to them, the company had failed to pay notwithstanding service of notice under section 434 of the Companies act, 1956. The aforementioned application for winding up was taken up on 10. 10. 2002 by a learned Single Judge of this Court who admitted the application after holding that the said; company was indebted to the appellant/petitioning creditor to the extent of Rs. 14,81,239. 20/-on account of balance price of the goods sold and delivered which the said company was liable to pay together with interest at the rate of 12% per annum under section 61 of the Sale of Goods Act from the date of the respective bills till the date of payment. The appellant/petitioning creditor was also held entitled to costs which was assessed at 300 GMs.

( 3 ) AFTER having held in the manner indicated above, the learned Single Judge admitted the application and directed the appellant/petitioning creditor to cause an advertisement to be punished, one in the' Statesman and the other, in the ananda Bazar Patrika within a period of 3 weeks after vacation and also directed that the matter the made returnable 6 weeks after the vacation.

( 4 ) IT appears that thereafter, the advertisements were published. Thereupon, an appeal was preferred by the company before a Division Bench of this Court but it was dismissed on the ground that after such publication, the winding up notice and the winding up petition had assumed a representative capacity. It further appears that the Division Bench observed that all creditors and contributors will appear before the Company Court either in support of or in opposition to the said winding up proceedings.

( 5 ) BY an order dated 17. 11. 2003, the matter was disposed of by directing the respondent company to make payment of Rs. 14,81,239. 20/-in 10 equal monthly instalments and the first of such instalments was to be paid by 15th December, 2003 and all subsequent monthly instalments by the 15th day of each and every succeeding month. In default of the payment of the first instalment or of any one of the instalments, the Official Liquidator was directed to take possession of the assets or properties of the company. Nothing was said with regard to the interests and costs which had been ordered by the other learned judge of this Court by his order dated 10. 10. 2002.

( 6 ) IT appears that thereafter on 13. 1. 2005 the matter again came up before the learned company Judge and it was observed that the payment of Rs. 14,81,239. 20/- had already been made by the company but the cost of 300 GMs had not been paid along with the last instalment. However, the company submitted that they were agreeable to pay the costs in spite of the fact that they had paid the last instalment except the cost and submitted that the appellant/petitioning creditor should be asked to accept the same. The learned judge, after having noted the aforementioned submissions, held that since a "winding up order" was discretionary and since, the principal amount had already been paid by the company, it would only be proper to direct the appellant/ petitioning creditor that if they had any further claims, in respect of interest, they would be at liberty to apply before the appropriate forum. In other