JUDGMENT :

(A.S. Supehia, J.)

1. In the present first appeal, the appellant-Oil and Natural Gas Corporation Limited (ONGC)-original plaintiff has assailed the judgment and decree dated 01.01.2018 passed by the 14th Additional Senior Civil Judge, Vadodara in Special Civil Suit No.281 of 1994 to the extent of denying the interest on the amount of Rs.54,01,332.02.

BRIEF FACTS:

2.1. The plaintiff-ONGC and the defendant-respondent Hindustan Chemicals Company executed a contract dated 12.03.1980 for the supply of natural gas for the manufacturing plant at GIDC Industrial Estate, District Surat, Gujarat of the respondent. The supply of gas by the appellant-ONGC was to commence from 01.05.1982 and remained in force and operation for a period of 5 years upto 30.04.1987 as per the price determined under clause 4.01(i) therein and for a further period of 3 years subject to the acceptance of the price by the defendant-respondent under clause 4.01(ii).

2.2. There was a dispute with regard to fixation of the price of natural gas in view of the notification dated 30.01.1987 issued by the Government of India, Ministry of Petroleum and Natural Gas, which resulted in filing a writ petition being Spec