- (1.) Heard Sri V.K. Singh, learned Counsel for the revisionist and Sri Vipin Sinha, learned Counsel for the Respondent.
(2.) This is Plaintiff revision against the order of the Additional District Judge, Court No. 10, Varanasi dated 29th February, 2008 passed in Original Suit No. 21 of 2002 (Prashant Glass Works v. Bank of Baroda).
(3.) The facts in short giving rise to the present revision are as follows: Plaintiff-revisionist is a Company duly incorporated under the Companies Act. It filed an application under Sections 433 and 434 of the Companies Act, 1956 before the Company Court, High Court at Allahabad being Company Petition No. 37 of 1999. In the aforesaid company proceedings, one of the issue, which came up for consideration was as to whether the applicants namely, the Plaintiff could claim interest at the rate of 24% per annum on the amount said to have not been paid by the Respondent-company. Learned Counsel for the Plaintiff-revisionist company before the Company Court elected to pursue his claim of interest at the rate claimed by him by way of normal suit. Accordingly, the company petition was disposed vide order dated 5th January, 2000 by recording that since admittedly the liability has been discharged, the company petition has to be dismissed leaving it open to the Plaintiff-company to claim interest by way of suit, if he so desired.;