Karnataka High Court Allows Writ Petition Directing Payment of Interest on Delayed Compensation in Lieu of Employment under KIAD Act. The Court held that compensation under Section 29 of the Karnataka Industrial Areas Development Act, 1966, includes monetary package agreed upon in lieu of employment, and delay in payment attracts interest at 15% per annum....
The dispute arose from the acquisition of the petitioner's land measuring 9 acres 31 guntas in Udagi Village, Sedam Taluk, for the benefit of the fourth respondent industry under the Karnataka Industr...
