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2007 (11) TMI 400 - SC - Companies LawWhether the surcharge is included in the interest and damage as appearing in clause 5.04 of the approved scheme? Whether delayed payment surcharge is included in interest or the damages in view of the conceded position that no interest was levied? Held that:- The High Court has not referred to various stands taken and urged before it. Specific reference was made to Board’s letter dated 18-6-2003 to Lord Krishna Textile Mills, and another letter dated 20-6-2003 in the context of waiver of delayed payment surcharge. Reference was also made to letter dated 7-9-2005 of the Corporation to the NTC that it has been decided to act as per decision taken in Lord Krishna Textile Mills. Reference was also made to letter dated 3-3-2003 of the Special Secretary, Government of Uttar Pradesh addressed to BIFR. In the circumstances, the matter is remitted to the High Court with the following directions that the BIFR shall be moved by the parties to clarify whether delayed payment surcharge is included in interest or the damages in view of the conceded position that no interest was levied. The order of the BIFR shall be placed on record before the High Court. The parties shall move the BIFR within one month and BIFR is requested to pass necessary orders within two months thereafter.The effect of waiver in case of Lord Krishna Mills case shall be duly considered.
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