TMI Blog2013 (3) TMI 518X X X X Extracts X X X X X X X X Extracts X X X X ..... t-plaintiff fails. Binding value of a precedent - We are in full agreement with the view expressed in Keshav Mills Co. Ltd.'s case (supra). The learned Senior Counsel Shri Rakesh Dwivedi has not been able to make out a case for reconsideration of the decision of this Court in Assam Small Scale Industries Development Corpn. Ltd (supra). In fact, a plea for reconsideration of the same was rejected by a Division Bench of this Court in Shakti Tubes Ltd. (supra). We are unable to agree with the argument of Shri Dwivedi and Shri Gupta that the provisions of the Act were not considered in its entirety. In fact, the entire scheme of the Act has been considered in the case of Rampur Fertilizers Ltd. (supra) and specific answer to the issue under consideration was answered. When there are four decisions of this Court with regard to the applicability of the Act for contracts entered into prior to the commencement of the Act, and when the plea for reconsideration has been expressly rejected in the past, we are of the view, it would be against the spirit of the doctrine of stare decisis for us to take any view in divergence with same. - The result is appeals fail and accordingly, they ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s order dated 27.01.2000 in favour of the supplier, who granted the compound interest @ 18.25% per annum plus interest of 5% above the said rate of interest with monthly rest till realization. Being aggrieved by the said order, the respondent had filed a Regular First Appeal No. 80 of 2000 before the High Court of Gauhati. The Division Bench of the High Court has allowed the appeal and dismissed the suit vide its judgment and order dated 18.8.2001 on the ground that suit is not maintainable as no amount was due on the date of institution of the suit and thereby followed its earlier view rendered by the Division Bench of the High Court in Assam State Electricity Board v. Trusses Towers (P) Ltd. 2001 (2) GLT 121, whereby and whereunder a Division Bench of the High Court had held that a suit for interest simpliciter was not maintainable when the principal amount was received without any demur and that the Act did not revive the claims that were already settled. The High Court has also, inter alia, directed the appellant to refund the amount of Rs. 10 lakhs, paid by the respondents pursuant to the Court's direction at the time of admission of the appeal to the respondent within a per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to decide the other issues in accordance with law and in the light of the observations made therein. Aggrieved by the decision of the Full Bench, the Board is before us in Civil Appeal No.2351 of 2003. 6. The issues that are required to be answered by us in these appeals are whether a suit for interest alone is maintainable under the provisions of the Act, and whether the Act would be applicable to contracts that have been concluded prior to the commencement of the Act. In other words, we are required to examine whether the Act would apply to those contracts which were entered prior to the commencement of the Act but supplies were effected after the Act came into force. The Scheme of the Act: 7. The Statement of Objects and Reasons read as under: "A policy statement on small scale industries was made by the Government in Parliament. It was stated at that time that suitable legislation would be brought to ensure prompt payment of money by buyers to the small industrial units. 2. Inadequate working capital in a small scale or an ancillary industrial undertaking causes serious and endemic problems affecting the health of such undertakings. Industries in this sector have also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inconsistent with the provisions of the Act. On the question of maintainability of a suit for interest 10. Shri Rakesh Dwivedi and Shri Sunil Gupta, learned Senior Counsel appear for the suppliers and Shri Vijay Hansaria, learned Senior Counsel appears for the buyer - Assam State Electricity Board (hereinafter referred to as 'the Board'). 11. The learned Senior Counsel appearing for the suppliers has brought to our notice that the first question that has been raised for our consideration has been answered by this Court in favour of the suppliers, in the case of Modern Industries v. Steel Authority of India Ltd. [2010] 5 SCC 44, in which this Court has held: "40. In Assam SEB v. Shanti Conductors (P) Ltd. inter alia the question that fell for consideration before the Full Bench of the Gauhati High Court was as to whether the suit for recovery of a mere interest under the 1993 Act is maintainable. The argument on behalf of the appellant therein was that no suit merely for the recovery of the interest under the 1993 Act is maintainable under the provisions of Section 6. It was contended that both principal sum and the interest on delayed payment simultaneously must coexist fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recover the amount of interest on the delayed payment under the Act. Therefore, he would have to refuse to accept the amount of payment and then file a suit for recovery of the principal amount and the interest on the delayed payment under the Act. The Act does not create any embargo against supplier not to accept principal amount at any stage and thereafter file a suit for the recovery or realisation of the interest only on the delayed payments under the Act." 42. The word "due" has a variety of meanings, in different context it may have different meanings. In its narrowest meaning, the word "due" may import a fixed and settled obligation or liability. In a wider context the amount can be said to be "due", which may be recovered by action. The amount that can be claimed as "due" and recoverable by an action may sometimes be also covered by the expression "due". The expression "amount due from a buyer" followed by the expression "together with the amount of interest" under sub-section (1) of Section 6 of the 1993 Act must be interpreted keeping the purpose and object of the 1993 Act and its provisions, particularly Sections 3, 4 and 5 in mind. This expression does not deserve to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t or any other legal proceeding under sub-section (1) or by making reference to IFC under sub-section (2) is maintainable only if it is for recovery of principal sum along with interest as per Sections 4 and 5 and not for interest alone? The answer has to be in negative. 46. We approve the view of the Gauhati High Court in Assam SEB that word "together" in Section 6(1) would mean "along with" or "as well as". Seen thus, the action under Section 6(2) could be maintained for recovery of principal amount and interest or only for interest where liability is admitted or has been disputed in respect of goods supplied or services rendered. In our opinion, under Section 6(2) action by way of reference to IFC cannot be restricted to a claim for recovery of interest due under Sections 4 and 5 only in cases of an existing determined, settled or admitted liability. IFC has competence to determine the amount due for goods supplied or services rendered in cases where the liability is disputed by the buyer. Construction put upon Section 6(2) by the learned Senior Counsel for the buyer does not deserve to be accepted as it will not be in conformity with the intention, object and purpose of the 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply of goods. He would refer to Sections 4 and 5 and also Section 10 of the Act and submit that the liability and payment of higher rate of interest is a result of delayed payment by the buyer to the supplier at the time of the supply. He would also stress on the non-obstante clause that is found in the text of section 5 and overriding effect given to the Act vide section 10 to stress upon the fact that the provisions of the Act with regard to compound interest would prevail even if there was an agreement to the contrary that the Act would override the provisions of any other law. He would lay emphasis upon the crucial date for the operation of the Act as the date on which the supply is made and not the date on which the contract of supply was concluded as understood by the decisions of this Court in Assam Small Scale Industries Development Corpn. Ltd. v. J.D. Pharmaceutical [2005] 13 SCC 19 and Shakti Tubes Ltd. v. State of Bihar [2009] 7 SCC 673. He would also lay emphasis on the expression "appointed day" as defined in Section 2(b) of the Act to contend that though the contract between the parties was prior to the enactment, it is the date of acceptance of the goods or any other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as come into force. The learned Senior Counsel would further submit that the Act is prospective and applies to all those contracts which had been executed earlier but supplies were made after the Act came into force. Shri Gupta would state that even if the agreement and supply was prior to the coming into force of the Act, it would still apply, if the issue with regard to delayed payment was still alive. He would submit that the vested right that has accrued in favour of the supplier should not be abrogated. Shri Gupta would also take us through the debates in Parliament by the various members while the legislation was being enacted and decisions of this Court in support of his submissions. Shri Gupta would also submit that the question to be addressed is not as to who is within the scope of the Act but who is necessarily out of the ambit of the Act. Arguments of behalf of the Board 17. Shri Vijay Hansaria, learned Senior Counsel appearing for the Board, would submit that the suits in both the cases of Shanti Conductors and Purbanchal Cables were barred by limitation. 18. In case of Purbanchal Cables (C.A. No. 2348 of 2003), the learned Senior Counsel would state that the las ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt has consistently held that the Act was not applicable to the contracts which were concluded prior to commencement of the Act. In aid of his submission, the learned Senior Counsel would draw our attention to issues raised and arguments canvassed in Assam Small Scale Industries Development Corpn. Ltd. (supra), which was specifically answered in the negative by observing that the Act is not applicable for the contracts entered into prior to the commencement of the Act. Shri Hansaria, further submits that this issue was again raised in the case of Shakti Tubes Ltd. (supra), wherein this Court was called upon to reconsider the question of law decided by this Court in Assam Small Scale Industries Development Corpn. Ltd. (supra) and this Court in Shakti Tubes Ltd. (supra) categorically refused to refer the matter to a larger Bench for reconsideration by approving the decision in Assam Small Scale Industries Development Corpn. Ltd. (supra) as correctly decided. He would then submit this Court had also considered this issue in Rampur Fertilizers Ltd. v. Vigyan Chemical Industries [2009] 12 SCC 324 and Modern Industries (supra). Therefore, he would submit that this Court has consistently ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring' services through Small Industries Development Bank of India (SIDBI). Network of such services would be set up throughout the country and operated through commercial banks. A suitable legislation will be introduced to ensure prompt payment of small industries' bills." 25. Keeping in view the above object, the Act was enacted by the Parliament. Before such enactment, it is required to examine rights of the supplier qua the buyer prior to the commencement of the Act. In case of delayed payment, the supplier, prior to the commencement of the Act, was required to file a suit for the payment of the principal amount, and could claim interest along with the principal amount. The supplier could avail of the same under Section 34 of the Code of Civil Procedure, 1908 (hereinafter referred to as 'the CPC'), Section 61 of Sale of Goods Act, 1930 and Section 3 of Interest Act, 1978. 26. In other words, the supplier whose payment was delayed by the buyer prior to the commencement of the Act, could file a suit for payment of the principal amount along with the interest. The supplier, thus, had the vested right to claim the principal amount along with interest thereon in case of a delay i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ingency; complete; established by law as a permanent right; vested interests."" 29. A statute creating vested rights is a substantive statute. This Court, in the case of Executive Engineer, Dhenkanal Minor Irrigation Division v. N.C. Budharaj [2001] 2 SCC 721, opined: "23. "Substantive law", is that part of the law which creates, defines and regulates rights in contrast to what is called adjective or remedial law which provides the method of enforcing rights. Decisions, including the one in Jena case while adverting to the question of substantive law has chosen to indicate by way of illustration laws such as Sale of Goods Act, 1930 [Section 61(2)], Negotiable Instruments Act, 1881 (Section 80), etc. The provisions of the Interest Act, 1839, which prescribe the general law of interest and become applicable in the absence of any contractual or other statutory provisions specially dealing with the subject, would also answer the description of substantive law " 30. In the case of Thirumalai Chemicals Ltd. v. Union of India [2011] 108 SCL 78, this Court comparing substantial law with procedural law, stated: "23. Substantive law refers to a body of rules that creates, defines a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that ordinarily, when the substantive law is altered during the pendency of an action, rights of the parties are decided according to law, as it existed when the action was begun unless the new statute shows a clear intention to vary such rights (Maxwell on Interpretation, 12th Edn. 220). That is to say, "in the absence of anything in the Act, to say that it is to have retrospective operation, it cannot be so construed as to have the effect of altering the law applicable to a claim in litigation at the time when the Act is passed"." 33. In Govind Das v. ITO [1976] 1 SCC 906, this Court speaking through P.N. Bhagwati. J., (as he then was) held: "11. Now it is a well settled rule of interpretation hallowed by time and sanctified by judicial decisions that, unless the terms of a statute expressly so provide or necessarily require it, retrospective operation should not be given to a statute so as to take away or impair an existing right or create a new obligation or impose a new liability otherwise than as regards matters of procedure. The general rule as stated by Halsbury in Vol. 36 of the Laws of England (3rd Edn.) and reiterated in several decisions of this Court as well as E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etrospective operation so as to affect an existing statutory provision pre-judicially ought not be so construed. It is a well recognised rule that statute should be interpreted if possible so as to respect vested rights. Where the effect would be to alter a transaction already entered into, where it would be to make that valid which was previously invalid, to make an instrument which had no effect at all, and from which the party was at liberty to depart as long as he pleased, binding, the prima facie construction of the Act is that it is not to be retrospective. (See Gardner v. Lucas). 38. In Moon v. Durden a question arose as to whether Section 18 of the Gaming Act, 1845 which came into effect in August 1845 was retrospective so as to defeat an action which had been commenced in June 1845. The relevant section provided that no suit shall be brought or maintained for recovering any such sum of money alleged to have been won upon a wager. It was held that it was not retrospective. Parke, B. said: "It seems a strong thing to hold that the legislature could have meant that a party who under a contract made prior to the Act, had as perfect a title to recover a sum of money as he h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns. Unless there are words in the statute sufficient to show the intention of the legislature to affect existing rights, it is deemed to be prospective only - "nova constitutio futuris formam imponere debet non praeteritis" - a new law ought to regulate what is to follow, not the past. (See Principles of Statutory Interpretation by Justice G.P. Singh, 9th Edn., 2004 at p. 438.) It is not necessary that an express provision be made to make a statute retrospective and the presumption against retrospectivity may be rebutted by necessary implication especially in a case where the new law is made to cure an acknowledged evil for the benefit of the community as a whole (ibid., p. 440). 14. The presumption against retrospective operation is not applicable to declaratory statutes . In determining, therefore, the nature of the Act, regard must be had to the substance rather than to the form. If a new Act is "to explain" an earlier Act, it would be without object unless construed retrospectively. An explanatory Act is generally passed to supply an obvious omission or to clear up doubts as to the meaning of the previous Act. It is well settled that if a statute is curative or merely declara ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o make payment for the supplies of any goods either on or before the agreed date or where there is no agreement before the appointed day. Only when payments are not made in terms of Section 3, Section 4 would apply. The 1993 Act came into effect from 23-9-1992 and will not apply to transactions which took place prior to that date. We find that out of the 71 suit transactions, Sl. Nos. 1 to 26 (referred to in the penultimate para of the trial court judgment), that is supply orders between 5-6-1991 to 28-7-1992, were prior to the date of the 1993 Act coming into force. Only the transactions at Sl. Nos. 27 to 71 (that is supply orders between 22-10-1992 to 19-6-1993), will attract the provisions of the 1993 Act. 38. The 1993 Act, thus, will have no application in relation to the transactions entered into between June 1991 and 23-9-1992. The trial court as also the High Court, therefore, committed a manifest error in directing payment of interest at the rate of 23% up to June 1991 and 23.5% thereafter." 42. In Shakti Tubes Ltd. (supra), this Court approved the ratio in Assam Small Scale Industries Development Corpn. Ltd. (supra) , and held: 18. In our considered opinion, the rati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed by this Court. The intent and the purpose of the Act, as made in para 37 of the judgment, are quite clear and apparent. When this Court said "transaction" it meant initiation of the transaction i.e. placing of the supply orders and not the completion of the transactions which would be completed only when the payment is made. Therefore, the submission made by the learned Senior Counsel appearing for the appellant-plaintiff fails. 43. The case of Assam Small Scale Industries Development Corpn. Ltd. (supra) has been followed in Rampur Fertilizers Limited as well as Modern Industries (supra). Therefore, we cannot agree with the submission that this Court in Assam Small Scale Industries Development Corpn's Ltd.'s case (supra) did not specifically consider and decide the issue of whether the Act would apply to such of those contracts executed prior to the commencement of the Act but the supplies being made after the commencement of the Act. Binding precedent or sub-silentio 44. However, the learned Senior Counsel appearing for the suppliers, Shri Rakesh Dwivedi, and Shri Sunil Gupta would contend that the decision of this Court is not a binding precedent. 45. Shri Rakesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of the Act conferring express power on the Municipal Corporation to direct removal of encroachments from any public place like pavements or public streets, and without any citation of authority. Accordingly, we do not propose to uphold the decision of the High Court because, it seems to us that it is wrong in principle and cannot be justified by the terms of the relevant provisions. A decision should be treated as given per incuriam when it is given in ignorance of the terms of a statute or of a rule having the force of a statute. So far as the order shows, no argument was addressed to the court on the question whether or not any direction could properly be made compelling the Municipal Corporation to construct a stall at the pitching site of a pavement squatter. Professor P.J. Fitzgerald, editor of the Salmond on Jurisprudence, 12th Edn. explains the concept of sub silentio at p. 153 in these words: "A decision passes sub silentio, in the technical sense that has come to be attached to that phrase, when the particular point of law involved in the decision is not perceived by the court or present to its mind. The court may consciously decide in favour of one party because of p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tare decisis. The 'quotable in law' is avoided and ignored if it is rendered, 'in ignoratium of a statute or other binding authority'. (Young v. Bristol Aeroplane Co. Ltd.). Same has been accepted, approved and adopted by this Court while interpreting Article 141 of the Constitution which embodies the doctrine of precedents as a matter of law. In Jaisri Sahu v. Rajdewan Dubey this Court while pointing out the procedure to be followed when conflicting decisions are placed before a bench extracted a passage from Halsbury's Laws of England incorporating one of the exceptions when the decision of an appellate court is not binding. 41. Does this principle extend and apply to a conclusion of law, which was neither raised nor preceded by any consideration. In other words can such conclusions be considered as declaration of law? Here again the English courts and jurists have carved out an exception to the rule of precedents. It has been explained as rule of sub-silentio. "A decision passes sub-silentio, in the technical sense that has come to be attached to that phrase, when the particular point of law involved in the decision is not perceived by the court or present to its mind." (Salmo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw declared unless the question is actually decided upon. We need not take stock of all these cases and we indeed have no quarrel with the propositions settled therein. " 51. Though the submissions made by Shri Rakesh Dwivedi and Shri Sunil Gupta, learned Senior Counsel seems attractive in the first blush, we are of the view, they lack merit. In the case of Assam Small Scale Industries Development Corpn. Ltd. (supra), the question of retrospective operation of the Act or whether past contracts were governed by the Act, was argued by the learned Senior Counsel appearing for the respondent. In the said judgment this Court has observed: "19 . The 1993 Act, it was submitted, being also a beneficent statute, the same should be construed liberally. The Act, Mr Chowdhury would argue, will thus, have a retrospective effect." 52. Further, in the case of Shakti Tubes Ltd. (supra), this issue was canvassed by the learned Counsel, due to which, this Court referred to the precedent in the case of Assam Small Scale Industries Development Corpn. Ltd. (supra). The argument on this point has been noted thus: "9. According to the appellant-plaintiff, the said interest has been claimed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion made to have a retrospective operation. [The aforesaid] rule in general is applicable where the object of the statute is to affect vested rights or to impose new burdens or to impair existing obligations. Unless there are words in the statute sufficient to show the intention of the legislature to affect existing rights, it is deemed to be prospective only-nova constitutio futuris formam imponere debet non praeteritis-a new law ought to regulate what is to follow, not the past. (See Principles of Statutory Interpretation by Justice G.P. Singh, 9th Edn., 2004 at p. 438.) It is not necessary that an express provision be made to make a statute retrospective and the presumption against retrospectivity may be rebutted by necessary implication especially in a case where the new law is made to cure an acknowledged evil for the benefit of the community as a whole (ibid., p. 440)." 25. In Zile Singh v. State of Haryana (supra), SCC at p. 9, this Court observed as follows: (SCC pp. 9-10, paras 15-16) "15. Though retrospectivity is not to be presumed and rather there is presumption against retrospectivity, according to Craies (Statute Law, 7th Edn.), it is open for the legislature to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liers of the nature of a small-scale industry. But, at the same time, the intention and the purpose of the Act cannot be lost sight of and the Act in question cannot be given a retrospective effect so long as such an intention is not clearly made out and derived from the Act itself." 54. In the case of Rampur Fertilizers Ltd. (supra), this Court again examined the entire scheme of the Act before following the dicta of this Court in the case of Assam Small Scale Industries Development Corpn. (supra). Even in Modern Industries Ltd. (supra), this Court did not differ from the dicta of this Court in Assam Small Scale Industries Development Corpn. (supra) and Shakti Tubes Ltd. (supra). Binding value of a precedent 55. In the case of Waman Rao v. Union of India [1981] 2 SCC 362, His Lordship Y.V. Chandrachud. C.J., speaking for the Constitution Bench, held: "40. It is also true to say that for the application of the rule of stare decisis, it is not necessary that the earlier decision or decisions of longstanding should have considered and either accepted or rejected the particular argument which is advanced in the case on hand. Were it so, the previous decisions could more easily ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecedent in the same court, or in other courts of equal or lower rank in subsequent cases where the very point is again in controversy unless there are occasions when departure is rendered necessary to vindicate plain, obvious principles of law and remedy continued injustice. It should be invariably applied and should not ordinarily be departed from where decision is of long standing and rights have been acquired under it, unless considerations of public policy demand it." 58. In the case of Mishri Lal v. Dhirendra Nath [1999] 4 SCC 11 this Court held: "13. It is further to be noted that Meharban Singh case came to be decided as early as 1970 and has been followed for the last three decades in the State of Madhya Pradesh and innumerable number of matters have been dealt with on the basis thereof and in the event, a different view is expressed today, so far as this specific legislation is concerned, it would unsettle the situation in the State of Madhya Pradesh and it is on this score also that reliance on the doctrine of "stare decisis" may be apposite. While it is true that the doctrine has no statutory sanction and the same is based on a rule of convenience and expediency and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a, we are of the view that the judgment in Gafar case does not require reconsideration by this Court. In Gafar case this Court had meticulously examined all the legal contentions canvassed by the parties to the lis and had come to the conclusion that the High Court has not committed any error which warrants interference. In the present appeals, the challenge is for the compensation assessed for the lands notified and acquired under the same notification pertaining to the same villages. Therefore, it would not be proper for us to take a different view, on the ground that what was considered by this Court was on a different fact situation. This view of ours is fortified by the judgment of this Court in Ballabhadas Mathurdas Lakhani v. Municipal Committee, Malkapur, wherein it was held that a decision of this Court is binding when the same question is raised again before this Court, and reconsideration cannot be pleaded on the ground that relevant provisions, etc., were not considered by the Court in the former case." 62. Judicial discipline demands that a decision of a Division Bench of two Judges should be followed by another Division Bench of two Judges and this has been stated t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made. It was held: " When it is urged that the view already taken by this Court should be reviewed and revised, it may not necessarily be an adequate reason for such review and revision to hold that though the earlier view is a reasonably possible view, the alternative view which is pressed on the subsequent occasion is more reasonable. In reviving and revising its earlier decision, this Court should ask itself whether in the interests of the public good or for any other valid and compulsive reasons it is necessary that the earlier decision should be revised. When this Court decided questions of law, its decisions are, under Art. 141, binding on courts within the territory of India, and so, it must be the constant endeavour and concern of this Court to introduce and maintain an element of certainty and continuity in the interpretation of law in the country. Frequent exercise by this Court of its power to review its earlier decisions on the ground that the view pressed before it later appears to the Court to be more reasonable, may incidentally tend to make law uncertain and introduce confusion which must be consistently avoided. This is not to say if on a subsequent occasion, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ution Bench held: "6. It is wise to remember that fatal flaws silenced by earlier rulings cannot survive after death because a decision does not lose its authority "merely because it was badly argued, inadequately considered and fallaciously reasoned." " 68. In light of this dictum, and the factum that no case has been made out for reconsideration by the learned Senior Counsel appearing for the suppliers, we do not see any reason much or less good reason to doubt the correctness of the decision in Assam Small Scale Industries Development Corpn. Ltd. (supra) or Shakti Tubes Ltd. (supra). When there are four decisions of this Court with regard to the applicability of the Act for contracts entered into prior to the commencement of the Act, and when the plea for reconsideration has been expressly rejected in the past, we are of the view, it would be against the spirit of the doctrine of stare decisis for us to take any view in divergence with same. 69. Lastly, learned Senior Counsel for suppliers also contended that the extension of date of supply order, from time to time by Board, amounts to a novation of contract or supply order in terms of Section 62 of the Indian Contracts Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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