2008 (7) TMI 966

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....1988 to September, 1989 by order dated 23.7.1992. The demand was challenged before the ESI Court under Section 75 of the Act. Pending the proceedings before the ESI Court, Corporation by letter dated 1.3.1997 asked for production of record for the purpose of re-verification for the period from 1989 to 1991 and from 1992 to 1994 to determine the amount payable. The respondent Corporation on re-verification determined the actual amount payable as follows: (a)    1/88 to 3/89 as Rs. 2,26,454/- (b)    4/89 to 3/94 as Rs. 5,28,071/- ___________________                  Total    Rs. 7,54,525/-     ....

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....e any compromise. In any event the submission of the appellant that nothing further was payable as ESI contribution was noted and therefore, the bank guarantee was released. There was no question of any compromise to waive the interest which is not statutorily permissible. The High Court accepted the stand and dismissed the writ petition. 3. In support of the appeal learned counsel for the appellant submitted that there was an order of stay and therefore the question of any interest does not arise. Further when the counsel for the Corporation himself stated that nothing further was payable, it clearly indicated that there  was a statement on the compromise for waiver of interest. It was pointed out that with a view to buy peace the a....