- (1.) We have heard the learned counsels for the parties.
(2.) The short and only point that would require an answer from the Court in the present appeal(s) is whether in respect of contracts entered into and fully executed prior to 23rd September, 1992, which is the date of coming into force of the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (hereinafter referred to as "the Act of 1993") the provisions of interest as contained in Sections 4 and 5 of the Act of 1993 would have any application.
(3.) The High Court held that the provisions of the Act of 1993 would apply to such situations and accordingly held the writ petitioners - respondents herein to be entitled to receive payments of interest under the Act of 1993. Aggrieved, the State of Arunachal Pradesh is in appeal.;