https://www.taxtmi.com/caselaws?id=416705 RBI supervisory communications issued in public interest were treated as binding statutory directions where their source was traceable to the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, even without express citation of the enabling provision. On the facts, payment on the bonds was withheld bona fide because of the RBI direction, winding-up proceedings, and unresolved title concerns, so delayed-payment and pendente lite interest were not awardable. The further claim for additional interest also failed because the warrants were accepted without timely protest, amounting to waiver and acquiescence, and the omitted claim was barred by constructive res judicata. en-us Mon, 03 Jan 2022 00:00:00 +0530 Thu, 02 Jun 2022 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416705 RBI supervisory communications issued in public interest were treated as binding statutory directions where their source was traceable to the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, even without express citation of the enabling provision. On the facts, payment on the bonds was withheld bona fide because of the RBI direction, winding-up proceedings, and unresolved title concerns, so delayed-payment and pendente lite interest were not awardable. The further claim for additional interest also failed because the warrants were accepted without timely protest, amounting to waiver and acquiescence, and the omitted claim was barred by constructive res judicata. Case-Laws Companies Law Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416705