https://www.taxtmi.com/caselaws?id=198018 A party protected by an interim stay cannot use that protection to avoid liability for interest on unpaid amounts that remained due during the stay period. Applying actus curiae neminem gravabit, the SC held that interest could be charged for the interval in which the stay operated and set aside the contrary direction. The Court, however, found the contractual rate excessive on the facts and reduced interest to 15% per annum. en-us Wed, 10 Aug 2005 00:00:00 +0530 Fri, 19 Apr 2024 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198018 A party protected by an interim stay cannot use that protection to avoid liability for interest on unpaid amounts that remained due during the stay period. Applying actus curiae neminem gravabit, the SC held that interest could be charged for the interval in which the stay operated and set aside the contrary direction. The Court, however, found the contractual rate excessive on the facts and reduced interest to 15% per annum. Case-Laws Indian Laws Wed, 10 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198018