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2018 (10) TMI 1316 - SC - Companies LawInterest on outstanding dues - Insolvency application pending before the NCLT - appellant submits that all amounts have been paid to the depositors within the extended period of time - Held that:- Learned counsel appearing on behalf of the respondent submits that penal interest is also attracted under Rule 17 at the rate of 18% per annum. Since the appellant has paid within the extended period of time, we do not agree to the same. It is, therefore, made clear that all amounts of interest at the rate of 12/12.5% per annum from the date of maturity till the actual payment should be released to the depositors notwithstanding any other impediment in the way. The amount to be disbursed to the depositors should be made within a period of twelve weeks from today. The insolvency application pending before the NCLT will be disposed of on its own merits without reference to the impugned judgment of this Court.
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