M/S HIND PAINTS & CHEMICALS vs M/S ACCURATE TRANSFORMERS LTD.

The Supreme Court held that the Division Bench of the High Court erred in withdrawing the liberty granted by the Company Judge to the appellant to approach the civil court for claiming higher interest under the Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993. The Court emphasized the importance of Section 4 of the Act, which allows for such claims. Consequently, the appeal was allowed, restoring the appellant's right to seek higher interest in civil court.