1991 (11) TMI 160

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....r : Satpal, J.]. -  Rule D.B. 2. In the present writ petition the petitioner has prayed for a direction to the respondents to pay to the petitioner interest at the rate of 17.5% per annum on the amount of Rs. 1,09,60,000/- from the date of deposit till the date of refund. 3. The facts of the case as briefly stated are that the petitioner imported about 4961.501 MTs inedible beef ....

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....ts filed two Special Leave Petitions Bearing Nos. 14605 and 14606 of 1990 against the order dated 14th February, 1990 passed by the Tribunal and the said Special Leave Petitions were dismissed by the Supreme Court vide order dated 19th November, 1990. Thereafter, the respondents refunded the amount of redemption fine of Rs. 1,09,60,000/- through two cheques dated 29-1-1991 and 6-3-1991 for Rs. 66,....

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....bay High Court in Kay Foam Limited v. Union of India, 1988 (34) E.L.T. 449 (Bombay). In this case the respondents were directed to refund the amount with interest at the rate of 18% per annum from the date of payment till the date of refund. He also referred to a un-reported judgment of Calcutta High Court in matter No. 398/84 M/s. Biswanath Traders & Investment (P) Ltd. v. Union of India and Othe....

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....just enrichment. The contention raised by the learned Counsel for the respondents has no force inasmuch as the amount on which the interest is being claimed has already been refunded to the petitioner before the said Act came into force. Besides in the Writ petition it has clearly been stated that the petitioner had raised the amount in question as loan from a Nationalised Bank and he was liable t....