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2021 (11) TMI 909 - AT - Companies LawOppression and mismanagement - breach and wilful disobedience - Sections 397, 398, 399, 402, 403, 406, 235, 237 and 247 read with Section 111 of the Companies Act, 1956 - HELD THAT:- There is no dispute that the earlier interest @15% was being paid till 30.09.1998 and the above observations only indicate that the payments were earlier made @ 15% but that the observations cannot read to mean that even from 01.04.1999 the Respondents agreed to make the payment @ 15%. The expression ‘at agreed rate’ as contained in paragraph 33 of the judgment of this Tribunal dated 20.08.2019 is capable of interpretation as put by the Respondents. When general body Resolution dated 25.09.1998 have expressly decided to pay interest @ 10% from 01.04.1999 and the general body Resolution is not denied or challenged by the Applicants, their insistence that the unsecured loan was to be paid @ 15% annually even after 01.04.1999 cannot be accepted. It is well settled that it is not permissible to the Court to examine the correctness of the earlier decision which has become final between the parties. However, when an order was reasonably capable of more than one interpretation a proceeding for contempt would not be maintainable. No case has been made out to punish the Respondents for contempt. The Respondents having themselves initiated proceedings for execution of the judgment dated 20.08.2019 and have expressed their willingness to deposit the entire amount with interest @ 15% till 30.09.1998 and thereafter @ 10% per annum annually compounded till the date payment is made, the Respondents are permitted to deposit the amount as above before the Executing Court within one month from today. Contempt Application is disposed off.
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