Supreme Court - Daily Orders
M/S Jaiprakash Associates Limited vs Jainendra Sahai Sinha on 10 September, 2018
Bench: Rohinton Fali Nariman, Indu Malhotra
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IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 45254526 OF 2017
M/S. JAIPRAKASH ASSOCIATES ... Appellant(s)
Versus
JAINENDRA SAHAI SINHA ... Respondent(s)
O R D E R
Mr. S.B. Upadhyay, learned senior counsel appearing on
behalf of the appellant submits that all amounts have been
paid to the depositors within the extended period of time.
Learned counsel appearing on behalf of the respondent
submits that the amounts have only been paid till the date
of maturity and not to the date of actual payment. Mr.
Upadhyay, on being apprised of this, submits that the
appellant will pay interest at the rate of 12/12.5% p.a, as
the case may be, from the date of maturity till actual
payment, if not already paid.
Learned counsel appearing on behalf of the respondent
submits that penal interest is also attracted under Rule 17
at the rate of 18% per annum. Since the appellant has paid
within the extended period of time, we do not agree to the
Signature Not Verified
Digitally signed by
SHASHI SAREEN
same. It is, therefore, made clear that all amounts of
Date: 2018.09.12
14:32:21 IST
Reason:
interest at the rate of 12/12.5% per annum from the date of
maturity till the actual payment should be released to the
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depositors notwithstanding any other impediment in the way.
The amount to be disbursed to the depositors should be made
within a period of twelve weeks from today.
The appeals are disposed of accordingly.
The insolvency application pending before the NCLT will
be disposed of on its own merits without reference to the
impugned judgment of this Court.
......................J.
(ROHINTON FALI NARIMAN)
…......................J.
(INDU MALHOTRA)
New Delhi,
Dated: 10th September, 2018.
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ITEM NO.51 COURT NO.8 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No(s). 4525-4526/2017
M/S JAIPRAKASH ASSOCIATES LIMITED Appellant(s)
VERSUS
JAINENDRA SAHAI SINHA Respondent(s)
(IA No. 3/2017-Permission to file Annexures)
(IA No. 1/2017-Stay application
Date : 10-09-2018 These matters were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN
HON'BLE MS. JUSTICE INDU MALHOTRA
For Appellant(s) Mr. S.B.Upadhayay, Sr. Adv.
Mr. Pawan Upadhayay, Adv.
Mr. Sarvjit Pratap Singh, Adv.
Ms. Anisha Upadhayay, Adv.
Mr. Nishant Kumar, Adv.
Mr. Surendra Kumar, Adv.
Unuc Legal Llp, AOR
For Respondent(s) Mr. Braj K.Mishra, Adv.
Mr. Vikas Malhotra, Adv.
Ms. Aparna Jha, AOR
Mr. Nareesh Pravir Sahay, Adv.
UPON hearing the counsel the Court made the following
O R D E R
The appeals are disposed of in terms of the signed order. Pending applications, if any, shall stand disposed of.
(SHASHI SAREEN) (TAPAN KUMAR CHAKRABORTY) AR CUM PS BRANCH OFFICER
(Signed order is placed on the file)