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SUPREME COURT OF INDIA
M.M. SUNDRESH, NONGMEIKAPAM KOTISWAR SINGH, JJ
THE KERALA WATER AUTHORITY & ORS. – Appellant
Versus
T I RAJU & ORS. – Respondent
| Table of Content |
|---|
| 1. scope of payment of interests as defined in contract. (Para 3 , 4) |
| 2. consideration of terms under the interest act. (Para 6 , 7 , 8) |
| 3. court's disapproval of high court's interpretation. (Para 11) |
| 4. outcome and orders by the supreme court. (Para 12 , 13) |
ORDER
1. Leave granted.
2. The brief facts relevant for determination of the present appeals arising out of the same impugned order dated 23.02.2023 are produced as under:
i) The appellant – T.I. Raju in Civil Appeal arising out of SLP (C) No.24631/2023, who is a Government Contractor had entered into a preliminary agreement dated 30.04.2013 for the execution of a work contract pertaining to the construction of Sewage Treatment Plant at Medical College, Calicut with appellant No.1 in Civil Appeal arising out of SLP (C) No.17823/2023.
ii) On 07.07.2014, the construction work was completed and the principal sum of Rs.86,64,846/- was due to appellant – T.I. Raju. Thereafter, in 2015, the appellant-T.I. Raju preferred a Writ Petition before the High Court seeking disbursal of the principal sum due to him, which was allowed and resultantly, the funds were released in his favour by 02.03.2016.
iii) On 25.11.2017, the appella
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