https://www.taxtmi.com/caselaws?id=394610 Fixed deposit holders were found entitled to receive matured deposit amounts with contractual interest at 12.5% per annum from the respective dates of maturity until realization, because the company's default could not justify reducing the agreed rate or denying interest for the post-maturity period. The appellate tribunal noted that the deposits had matured in 2016 and remained unpaid despite notice, and held that the protective framework for depositors could not be used to benefit a defaulter. The tribunal therefore set aside the NCLT orders and awarded litigation costs to the depositors. en-us Tue, 25 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394610 Fixed deposit holders were found entitled to receive matured deposit amounts with contractual interest at 12.5% per annum from the respective dates of maturity until realization, because the company's default could not justify reducing the agreed rate or denying interest for the post-maturity period. The appellate tribunal noted that the deposits had matured in 2016 and remained unpaid despite notice, and held that the protective framework for depositors could not be used to benefit a defaulter. The tribunal therefore set aside the NCLT orders and awarded litigation costs to the depositors. Case-Laws Companies Law Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394610