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    <title>INTEREST ON PENALTIES PAYABLE FROM THE DEADLINE UNDER SECTION 28A OF SEBI ACT, NOT FROM THE DEMAND NOTICE</title>
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    <description>Adjudication orders that fix a period for payment crystallise the liability to pay penalties under the SEBI Act; under Section 28A read with Section 220, interest on unpaid penalties accrues from the date the amount became payable (expiry of the specified compliance period), and subsequent recovery demand notices do not alter that commencement date.</description>
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      <description>Adjudication orders that fix a period for payment crystallise the liability to pay penalties under the SEBI Act; under Section 28A read with Section 220, interest on unpaid penalties accrues from the date the amount became payable (expiry of the specified compliance period), and subsequent recovery demand notices do not alter that commencement date.</description>
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