MAMTA JAISWAL Vs. APL METALS LTD.

JUDGEMENT

(1.) The plaintiff has filed the present suit praying for Decree for a sum of Rs.18,50,257.58 along with interest and interest upon judgment at the rate of 18% per annum.

(2.) The plaintiff is engaged in the business of retail and wholesale of lead and lead ingots. The defendant is engaged in production and supply of refined lead, lead alloys and lead oxides.

(3.) The defendant was in need for Lead for its manufacturing process, therefore, the defendant, being aware that the plaintiff is a whole-seller of Lead, approached the plaintiff. After negotiations between the parties, it was agreed that the defendant would place purchase orders upon the plaintiff for supply of lead at specific rates and the plaintiff would supply Lead and raise invoices upon the defendant and thereafter the defendant will make payment in terms of the invoices raised by the plaintiff. It was also agreed between the parties that in the event of delay in making payment, the defendant would make payment of interest at the rate of 18% per annum.