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2018 (11) TMI 94 - AT - Indian LawsRectification/modification of the interest amount on penalty imposed - Section 43A of the Competition Act, 2002 - case of appellant is that there being partial order of stay and part of the amount having been deposited with the COMPAT and later on total amount of ₹ 2,00,00,000/- (Rupees Two Crores) having been deposited with the COMPAT, the Appellants are not liable to pay any interest. Held that:- Similar issue fell for consideration before the Hon’ble Supreme Court in State of Rajasthan and Anr. Vs. J.K. Synthetics Limited and Anr. [2011 (7) TMI 1300 - SUPREME COURT OF INDIA], where it was held that whenever there is an interim order of stay in regard to any revision in rate or tariff, unless the order granting interim stay or the final order dismissing the writ petition specifies otherwise, on the dismissal of the writ petition or vacation of the interim order, the beneficiary of the interim order shall have to pay interest on the amount withheld or not paid by virtue of the interim order. As the case of the Appellants is covered by the decision of the Hon’ble Supreme Court in J.K. Synthetics Limited, we are not inclined to interfere with the demand notice, so far it relates to interest - appeal dismissed - decided against appellant.
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