M/S Ongc Limited vs Assn. Of Natural Gas Consuming Indus. & ...

The Supreme Court addressed the issue of ONGC's entitlement to interest on the principal amount due for gas supplied under contractual obligations. The Court reaffirmed that ONGC was entitled to recover the price as per the original contract terms and that interest was applicable for late payments as specified in Clause 5 of the contract. The Court clarified that disputes regarding the calculation of arrears and the application of sales tax and royalty on short-lifted gas were to be resolved separately, emphasizing the need for adherence to the Court's earlier orders regarding pricing.