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2018 (3) TMI 1271 - MADRAS HIGH COURTDemand of Interest - cancellation of the deferral agreement entered into the petitioner with the 3rd respondent - Held that: - the first payment of ₹ 15,00,000/- has been paid well before the cancellation of the agreement and the second instalment has been paid on 13.04.2007 well before the pre-emptive date viz., 22.09.2008, had the deferral agreement been in force - the interest payable by the petitioner shall be only from the date of cancellation of the agreement viz., 24.01.2007 till the date of payment viz., 13.04.2007. The matter is remanded to the 1st respondent to levy interest for the period from 24.01.2007 to 13.04.2007 - petition allowed by way of remand.
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