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2019 (12) TMI 54 - Tri - Companies LawMaintainability of petition - Entitlement of sum after maturity of FDR with the respondent - Repayment of the interest due from the date of maturity till the date of actual payment is released - section 73(4) of the Companies Act, 2013 - Case of petitioner is that the interest on her deposits after the date of maturity till the date of actual repayment of deposits, has not been paid - Whether the petitioner is entitled to get the interest at the rate of 12/12.5% p.a. from the date of maturity of the FDRs till the date of actual payment was made or not? HELD THAT:- A mere plain reading of provision of Section 74(2) of the Companies Act, 2013, shows that by exercising the power, this Tribunal allow the time as considered reasonable to the company to repay the deposit - this Tribunal simply regularized the belated payment, which was made by the respondent to the depositors by extending the time to make the payment u/s 74(2) of the Companies Act, 2013 - In my opinion, this order will not debar the petitioners to get the interest after the maturity till the date of actual payment is made. The petitioners are not entitled to get further interest, rather this Tribunal is of the considered view that petitioner are entitled to get the interest at the rate of 12/12.5% p.a. from the date of maturity till the date of actual payment is released to the depositors. Petition allowed in part.
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