https://www.taxtmi.com/caselaws?id=126924 The Bench upheld the order mandating payment of Post Maturity Interest (PMI) at 10% despite the company's objections being rejected. The necessity of a succession certificate for payment was dismissed, and the company's attempt to challenge this in execution proceedings was deemed meritless. The order reducing PMI to 7% was found not to bind the applicants, maintaining the 10% directive. The correctness of the applicants' calculation was confirmed, entitling them to the remaining balance. A Special Officer was appointed to sell the company's tea stocks to satisfy the outstanding balance. en-us Wed, 30 Jun 2010 00:00:00 +0530 Wed, 06 Feb 2013 10:05:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126924 The Bench upheld the order mandating payment of Post Maturity Interest (PMI) at 10% despite the company's objections being rejected. The necessity of a succession certificate for payment was dismissed, and the company's attempt to challenge this in execution proceedings was deemed meritless. The order reducing PMI to 7% was found not to bind the applicants, maintaining the 10% directive. The correctness of the applicants' calculation was confirmed, entitling them to the remaining balance. A Special Officer was appointed to sell the company's tea stocks to satisfy the outstanding balance. Case-Laws Companies Law Wed, 30 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126924