This is a Company Appeal (AT) (Insolvency) No. 224 of 2017 before the National Company Law Appellate Tribunal, New Delhi. The appeal was filed by Teknow Consultants and Engineers Pvt. Ltd. against Bharat Heavy Electricals Limited. The respondent, Bharat Heavy Electricals Limited, had already paid the principal amount of Rs. 16,98,000/-, but the appellant claimed interest. The court adjourned the case to allow the parties to determine whether the respondent would pay 6% compound interest.
Teknow Consultants and Engineers Pvt. Ltd. filed an appeal against Bharat Heavy Electricals Limited. The dispute centered around the payment of interest on a principal amount of Rs. 16,98,000/- which had already been paid by Bharat Heavy Electricals Limited. The appellant, Teknow Consultants, claimed interest on the delayed payment. The court noted the pendency of a case under Section 37 of the Arbitration and Conciliation Act, 1996. Bharat Heavy Electricals Limited agreed to pay the amount in terms of the observations made by the Appellate Tribunal on 14th November, 2017. The learned counsel for the appellant sought permission to withdraw the appeal with the liberty to revive it if the cheque issued by the respondent bounced. A cheque no. 428463 dated 11th December,
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This is a Company Appeal (AT) (Insolvency) No. 224 of 2017 before the National Company Law Appellate Tribunal, New Delhi. The appeal was filed by Teknow Consultants and Engineers Pvt. Ltd. against Bharat Heavy Electricals Limited. The respondent, Bharat Heavy Electricals Limited, had already paid the principal amount of Rs. 16,98,000/-, but the appellant claimed interest. The court adjourned the case to allow the parties to determine whether the respondent would pay 6% compound interest.
Teknow Consultants and Engineers Pvt. Ltd. filed an appeal against Bharat Heavy Electricals Limited. The dispute centered around the payment of interest on a principal amount of Rs. 16,98,000/- which had already been paid by Bharat Heavy Electricals Limited. The appellant, Teknow Consultants, claimed interest on the delayed payment. The court noted the pendency of a case under Section 37 of the Arbitration and Conciliation Act, 1996. Bharat Heavy Electricals Limited agreed to pay the amount in terms of the observations made by the Appellate Tribunal on 14th November, 2017. The learned counsel for the appellant sought permission to withdraw the appeal with the liberty to revive it if the cheque issued by the respondent bounced. A cheque no. 428463 dated 11th December,
…On hearing the counsel for the parties, the…
The parties informed the Appellate Tribunal that…
Sign in to view related legal provisions.