https://www.taxtmi.com/caselaws?id=183381 The Supreme Court ordered the respondent to refund the principal amount of Rs. 10 crores to the petitioner, an offshore oil exploration company, following a delay in processing the refund of a security deposit. The Court further ruled that the petitioner was entitled to interest at 6% per annum from 9th October 2003 to 12th October 2006, with an increased rate of 10% per annum from 16th August 2010 until full payment if not made by 15th August 2010. Additionally, the Court awarded costs of Rs. 10,000 to the petitioner. en-us Mon, 14 Jun 2010 00:00:00 +0530 Tue, 07 Jun 2016 18:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183381 The Supreme Court ordered the respondent to refund the principal amount of Rs. 10 crores to the petitioner, an offshore oil exploration company, following a delay in processing the refund of a security deposit. The Court further ruled that the petitioner was entitled to interest at 6% per annum from 9th October 2003 to 12th October 2006, with an increased rate of 10% per annum from 16th August 2010 until full payment if not made by 15th August 2010. Additionally, the Court awarded costs of Rs. 10,000 to the petitioner. Case-Laws Customs Mon, 14 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183381