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2010 (3) TMI 1027 - MADRAS HIGH COURTDemand for interest payment - Held that:- Agreeing with the submission of the petitioner that in the absence of any benchmark fixed either as to the production or sales as a condition for enjoying the deferral and rightly so, in the context of the parent unit enjoying the deferral when the expanded unit was granted the eligibility, no hesitation in quashing the demand for interest payment from the petitioner. Having regard to the fact that the deferral conditions are binding on the petitioner as well as on the respondent, the notice levying interest under section 24(3) of the Act has to be set aside. Consequently the writ petition is allowed and the impugned order is quashed.
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