* IN THE HIGH COURT OF DELHI AT NEW DELHI + CO.APP. 43/2006 % Date of decision: 24.1.2008 R.G.R.TRANSPORT P.LTD. ..... Appellant Through Mr.Jagjit Singh, Advocate versus INDO ASIA TOURS P.LTD. ..... Respondent Through Mr.Rajshekhar Rao, Advocate CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MS. JUSTICE REVA KHETRAPAL 1. Whether reporters of local papers may be allowed to see the judgment? no 2. To be referred to the Reporter or not? no 3. Whether the judgment should be reported in the no Digest? DR.MUKUNDAKAM SHARMA, CHIEF JUSTICE: (ORAL) 1. We have heard the learned counsel appearing for the parties on this appeal and on the order under challenge which was passed by the learned Single Judge in a Company Petition filed under Sections 433(e), 434 and 439 of the Companies Act directing that an amount of Rs.2,11,232/- lying deposited in this Court be paid to the appellant and that if any interest is accrued on the aforesaid amount, the same shall also be paid to the appellant. Co.Appeal No.43/2006 page 1 of 3 2. The appellant is aggrieved by the aforesaid order on the ground that he has not been paid interest for the period from 18th May, 2005 till the deposit was made in the Court. The petition was filed by the appellant under Sections 433, 434 and 439 of the Companies Act with a prayer that the respondent is unable to pay its debt. Contention raised before the learned Company Judge was that in 1997 cars and coaches were given on hire / rent by the appellant to the respondent company and invoices were raised and that a total amount of Rs.3,63,730.05 towards hire / rental charges is due and payable by the respondent. The appellant has also stated that the respondent was also liable to pay taxes and that in all an amount of Rs.4,85,944/- is due and payable by the respondent to the appellant. However, deduction was also given by the appellant for an amount of Rs.2,74,712/-. Finally it was stated in the said Company Petition that a total amount of Rs.2,11,232/-, which is claimed, is due and payable by the respondent to the appellant in terms of which a notice was issued and thereafter the aforesaid petition was filed. The Court under order dated 18th May, 2005 directed the respondent to deposit the said amount of Rs.2,11,232/- in this Court, which the respondent company has deposited. The Company Court after hearing the parties under order dated 13th July, 2006 directed that the aforesaid amount along with the interest accrued thereon should be paid to the appellant. Co.Appeal No.43/2006 page 2 of 3 3. Therefore, the issue which is raised is as to whether or not the respondent should be directed to pay interest for the period from 18th May, 2005 till the date of deposit of the said amount in this Court. This is not a recovery suit nor is it necessary for us to determine finally as to what amount is due and payable and whether interest is also due and payable in these proceedings. If the appellant is in any manner aggrieved, the appropriate remedy for him is to take resort to civil proceedings or arbitration proceedings, provided there is any such arbitration clause between the parties. 4. We, therefore, hold that in this appeal we are not inclined to grant payment of interest. If the appellant is desirous of claiming interest on the aforesaid amount, he can take resort to appropriate proceedings in accordance with law. The appeal has no merit and the same is dismissed. CHIEF JUSTICE REVA KHETRAPAL, J JANUARY 24, 2008 nm Co.Appeal No.43/2006 page 3 of 3