Sale of Goods Act, 1930 — Section 61(2) — Suit for recovery — Interest on price of goods supplied

February 26th, 2013

Sale of Goods Act, 1930 — Section 61(2) — Suit for recovery — Interest on price of goods supplied — Entitlement to — Plaintiff claimed interest @ 18% p.a. — No agreement between parties for payment of interest, but since this is a suit for price of goods sold and delivered, interest can be awarded u/s 61(2) of Act — Considering the nature of transaction, interest should be awarded to plaintiff @ 12% p.a. — Ordered accordingly.

(Para 24)

Herbicides (India) Ltd. v. Shashank Pesticides P.Ltd., CS (OS) No. 1362/1997(13/05/2011), 2011(180) DLT 243: 2011(5) AD(Delhi) 327: 2011(124) DRJ 331 [V.K. Jain, J.]

Entry Filed under: Commercial Laws,Judgements