https://www.taxtmi.com/caselaws?id=106310 The statutory scheme under the Securities and Exchange Board of India Act, 1992 and the 1997 acquisition regulations was construed to permit compensatory interest on delayed payment in aid of investor protection, even without an express interest clause. Section 11(1) was treated as a broad enabling power, while section 11(2) was read as illustrative rather than exhaustive; read with Regulation 44, it supported directions for interest to prevent defeat of the regulatory object. The date from which interest runs was upheld because it had already been accepted in earlier proceedings, and 15 per cent per annum was held compensatory rather than penal. en-us Thu, 02 May 2002 00:00:00 +0530 Tue, 13 Mar 2012 16:16:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106310 The statutory scheme under the Securities and Exchange Board of India Act, 1992 and the 1997 acquisition regulations was construed to permit compensatory interest on delayed payment in aid of investor protection, even without an express interest clause. Section 11(1) was treated as a broad enabling power, while section 11(2) was read as illustrative rather than exhaustive; read with Regulation 44, it supported directions for interest to prevent defeat of the regulatory object. The date from which interest runs was upheld because it had already been accepted in earlier proceedings, and 15 per cent per annum was held compensatory rather than penal. Case-Laws Companies Law Thu, 02 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106310