https://www.taxtmi.com/caselaws?id=111509 Delayed refund of instalments justified an award of interest because the appellant was deprived of the use of money wrongfully retained, and the rate already granted was not shown to be inappropriate. The request for a higher rate of interest was rejected. However, where the principal was refunded without the accompanying interest component, equity permitted interest on that unpaid interest for the relevant period, and the order was modified accordingly. The decision treats interest as an equitable accretion on money retained without justification and recognises that compensation for delayed refund may extend to the interest component where justice requires it. en-us Thu, 15 Feb 2007 00:00:00 +0530 Wed, 04 Jun 2014 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111509 Delayed refund of instalments justified an award of interest because the appellant was deprived of the use of money wrongfully retained, and the rate already granted was not shown to be inappropriate. The request for a higher rate of interest was rejected. However, where the principal was refunded without the accompanying interest component, equity permitted interest on that unpaid interest for the relevant period, and the order was modified accordingly. The decision treats interest as an equitable accretion on money retained without justification and recognises that compensation for delayed refund may extend to the interest component where justice requires it. Case-Laws Companies Law Thu, 15 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111509