grossly erred in directing payment of interest under
Section 16 of the MSMED Act. She relies on judgment of the Delhi High
Court in Shristi ... arbitrator and permissibility to award interest
under Section 16 of the MSMED Act.
2 (2023) 6 SCC 401
3 2019 SCC Online
grossly erred in directing payment of interest under
Section 16 of the MSMED Act. She relies on judgment of the Delhi High
Court in Shristi ... arbitrator and permissibility to award interest
under Section 16 of the MSMED Act.
2 (2023) 6 SCC 401
3 2019 SCC Online
MSMED Act ,
rendering the Impugned Award null and void in law. Further, section
18(3) of the MSMED Act mandates that disputes under the MSMED ... COMM.) 246/2022 Page 16 of 42
By:MAYANK
Signing Date:01.05.2025
16:59:42
44. Section 18 of the MSMED Act provides that
SOWiL had founded its claim for interest on Section 16 of the
MSMED Act. IHMCL did not contest that SOWiL was not entitled to
interest ... SOWiL's entitlement to interest in terms
of Section 16 of the MSMED Act. IHMCL contended that SOWiL was
entitled to reasonable interest.
Signature
claim for interest on the principle
dues, under Section 16 of the MSMED Act. The Arbitral Tribunal dealt with
the said claim and while doing ... interest is made by the supplier by resort
to Section 16 . Section 16 vests rights in the supplier to claim interest in
terms thereof
amount of interest
thereon as provided in section 16 . Section 16 of the
MSMED Act says that where a buyer fails to make
payment ... 2825/2020 CAV JUDGMENT DATED: 16/12/2022
section 16 of the MSMED Act, he is saddled with the
liability to pay compound interest with
appointed date‟ or the contractual trigger under
Sections 15 and 16 of the MSMED Act.
35. It would be urged that the mere assertion ... statutory period, the entitlement to interest under Sections 15 and 16
of the MSMED Act flows as a matter of law. It would be urged
scale industry, it is entitled to interest as
provided U/s 16 of MSMED Act , as the provisions of the said
Act override the provisions ... Arbitral
Tribunal committed error in not awarding interest under
Sec.16 of MSMED Act, as such the impugned award is
contrary
Therefore, the interest as calculated by the
Petitioner under Section 16 of MSMED Act and
submitted as Claim No. 2, should have been
awarded ... granted Claim No. 2, which the
Petitioner had claimed under Section 16 of MSMED
Act, 2006. Hence, this petition.
(d) The Learned Arbitrator erred
interest as per RBI guidelines in accordance with provisions of
Sec.16 MSMED Act, 2006 per annum on the Award Amount ... interest as per RBI
guidelines in accordance with provisions of Sec. 16 MSMED
Act, 2006 per annum on the Award Amount
