https://www.taxtmi.com/caselaws?id=101740 Where the principal debt is admitted and the objection to interest is not bona fide, the company court in winding-up proceedings may determine liability for interest to avoid multiplicity of litigation. The Court treated the admitted debt, prior demand, absence of denial, and repeated assurances to settle as sufficient to entertain the interest claim, and it fixed a reasonable commercial rate rather than the rates sought by either side. Interest was directed at 12 per cent per annum from the date of demand, with credit for payments already made on the relevant dates. en-us Fri, 19 Feb 1988 00:00:00 +0530 Fri, 10 Feb 2012 18:24:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101740 Where the principal debt is admitted and the objection to interest is not bona fide, the company court in winding-up proceedings may determine liability for interest to avoid multiplicity of litigation. The Court treated the admitted debt, prior demand, absence of denial, and repeated assurances to settle as sufficient to entertain the interest claim, and it fixed a reasonable commercial rate rather than the rates sought by either side. Interest was directed at 12 per cent per annum from the date of demand, with credit for payments already made on the relevant dates. Case-Laws Companies Law Fri, 19 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101740