1982 (11) TMI 114 - HC - Companies Law

Summary

The petition under section 433(e) and (f) of the Companies Act, 1956 was made by Southern Industrial Polymers (P.) Ltd. against Amar Formulators & Electronics (Pvt.) Limited for a due amount. The respondent agreed to pay but dispute arose over the interest rate. The court rejected the petition, stating that the respondent showed commercial solvency and advised the petitioner to pursue the interest claim in a civil court.