M/S. VIJAY INDUSTRIES vs M/S. NATL TECHNOLOGIES LTD.

The Supreme Court addressed whether interest payable on a sum due constitutes a debt under Sections 433 and 434 of the Companies Act, 1956. The Court held that interest, as stipulated in the agreement, is indeed part of the debt, thereby attracting the provisions of the Act. The outcome affirmed the appellant's right to claim the outstanding amount along with interest, emphasizing the binding nature of the contractual terms agreed upon by the parties.