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PUNJAB & HARYANA HIGH COURT
S.P.Goyal, J.
Unisystems Private Limited
Versus
Stepan Chemical Limited
Company Petition No. 77 of 1983,
Decided On : JULY 20, 1984
Interest - Disputed Claim - The court dismissed the petition for interest on the principal amount as there was no agreement for the payment of interest and the claim was hotly disputed.
Fact of the Case:
The principal amount has been paid, but the petitioner claims interest on the amount which was wrongly withheld.
Finding of the Court:
The court dismissed the petition as there was no agreement for the payment of interest and the claim was hotly disputed.
Issues: Disputed claim for interest on principal amount
Ratio Decidendi: In the absence of an agreement for the payment of interest and with the claim being hotly disputed, no winding-up order can be passed on the basis of the claim for interest.
Final Decision: The petition for interest on the principal amount was dismissed with no costs.
S. P. Goyal, J.
1. The principal amount admittedly has been paid. The learned counsel for the petitioner, however, contends that the petitioner is entitled to get interest on the amount which was wrongly withheld. The learned counsel opposite has controverted this claim and states that there is no stipulation between the parties regarding the payment of interest. The learned counsel for the petitioner does not dispute the fact that there is no agreement for the payment of interest but he claims it on the basis of the bills submitted. This claim thus being hotly disputed, no winding-up order can be passed on its basis. This petition is dismissed. No costs.
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