https://www.taxtmi.com/caselaws?id=287722 The Supreme Court modified the orders of the State and National Commissions in an appeal seeking compensation and interest for wrongfully withholding a deposited amount. The Court found that the bank held the amount as margin money for a guarantee and rejected the appellant's claim for compensation and interest. While Section 34 of the Civil Procedure Code was not directly applicable, interest was granted based on justice. The Court increased the interest rate to 15% per annum from the originally awarded 12%, directing payment of the enhanced amount to the appellant within a specified timeframe to ensure justice. en-us Wed, 11 Aug 1999 00:00:00 +0530 Sat, 15 Jan 2022 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287722 The Supreme Court modified the orders of the State and National Commissions in an appeal seeking compensation and interest for wrongfully withholding a deposited amount. The Court found that the bank held the amount as margin money for a guarantee and rejected the appellant's claim for compensation and interest. While Section 34 of the Civil Procedure Code was not directly applicable, interest was granted based on justice. The Court increased the interest rate to 15% per annum from the originally awarded 12%, directing payment of the enhanced amount to the appellant within a specified timeframe to ensure justice. Case-Laws Indian Laws Wed, 11 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287722