TMI Blog1987 (8) TMI 440X X X X Extracts X X X X X X X X Extracts X X X X ..... ning and Acquisition of Immovable Property Act 1952 is the issue. The principles upon which the compensation on this aspect is payable are by now well settled. In Satinder Singh Ors. v. Amrao Singh Ors., [1961] 3 SCR 676 this Court reiterated the principles at page 694 of the report as follows: In Inglewood Pulp and Paper Co. Ltd. v. New Burnswick Electric Power Commission [1928] A.C. 429 it was held by the Privy Council that upon the expropriation of land under statutory power, whether for the purpose of private gain or of good to the public at large, the owner is entitled to interest upon the principal sum awarded from the date when possession was taken, unless the statute clearly shows a contrary intention. : Dealing with the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a point before us, was highlighted in National Insurance Co. Ltd. Calcutta v. Life Insurance Corporation of India, [1963] Supp. 2 SCR 971. at 992 where speaking for the court Mr. Justice Hidayatullah, as learned Chief Justice of India then was observed: The reason of the rule was stated a long time ago by Lord St. Leonard L.C. Birch v. Joy, [1852] III H.L.C. 565:10 E.R. 222 as follows: The parties change characters, the property remains at law just where it was, the purchaser has the money in his pocket, and the seller still has the estate vested in him; but they exchange characters in a Court of Equity, the seller becomes the owner of the money and the purchaser becomes the owner of the estate. On entering possession the purchaser be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the light of the observations of Privy Council in Inglewood Pulp and Paper Co. Ltd. v. New Burnswick Electric Power Commission, AIR 1928 Privy Council 287. We are of the opinion that from the period from March 7, 1975 to February 28, 1985 being the date on which the judgment of the High Court was pronounced in this case the appellants are entitled to the interest on the amount awarded at the rate of 6% per annum and from the period from August 87 1985 to July 31, 1987 and for that period only at the rate of 12% per annum. Interest will be payable only on the balance amount which remained to be payable to the appellants i.e. the amount due minus what has been paid from the respective dates. The appellants are entitled to the costs of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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