Authority: Supreme Court of India
Order Date: 02-09-2026
Case Overview
- Parties: M/S G.K. Ispat Private Limited (Petitioner) vs. M/S Sai Construction (Respondent).
- Nature: Special Leave Petition (Civil) arising from the impugned final judgment and order dated 18-03-2026 passed by the High Court of Karnataka in COM.A No. 339/2024.
- Background: The High Court upheld a trial court order awarding interest at 24% per annum to the petitioner, relying on invoices (Exhibit D‑5 to D‑13) that were between the respondent and a third party, not between the parties themselves. The petitioner contended that such invoices cannot form the basis for interest calculation and that the 24% rate is unduly harsh.
- Petition sought: (i) Condonation of delay in refiling the Special Leave Petition; (ii) Review of the interest award; (iii) Appropriate relief regarding the interest rate.
Final Outcome
- The Supreme Court condoned the delay in refiling the Special Leave Petition.
- The Court directed that a notice be issued, limited solely to the rate at which interest has been awarded, and that the notice be returned within four weeks.
- No further substantive determination on the merit of the interest rate was made in this order; the matter proceeds on the basis of the issued notice.
Topics: Legal Proceedings, Interest Award Review