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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
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:
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.
iv) The suit filed by the plaintiff/appellant-T.I. Raju was decreed holding that the defendants/appellants in Civil Appeal @ SLP (C) No17823/2023 are jointly and severally liable to pay a sum of Rs.21,48,411/-, with an interest of 14% from the date of filing the suit till the date of realization.
3. The present issue is one of the payment of interests. Clause (5) of the preliminary agreement dated 30.04.2013 stat
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