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2008 (6) TMI 352 - SC - Companies LawPower of Reserve Bank to give directions - Held that:- The interest of justice would be subserved if we, in exercise of our discretionary jurisdiction under article 142 of the Constitution of India, direct that 50 per cent of the amount which was forfeited be refunded by the appellant to the respondent within three months from the date of this judgment and the balance 50 per cent would be considered as forfeited in terms of the provisions of the agreement. However, if the appellant fails to pay the said amount within the stipulated period the same will carry an interest at the rate of 8 per cent p.a. which will be calculated from the date when the above mentioned period expires till the date of payment.
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