Supreme Court Upholds High Court's Interpretation of Lease Deed in State of Bihar v. Tata Iron & Steel Co. Ltd. — Interest on Arrears of Rent Calculated on Lump Sum Basis, Not Per Annum, Under Clause (xii) of Lease Deed. The Court held that the absence of the words 'per annum' in Clause (xii) of the Lease Deed was deliberate and the demand for interest on a yearly basis was illegal.
9 May 2019The case involves a dispute between the State of Bihar (now Jharkhand) and Tata Iron & Steel Co. Ltd. regarding the calculation of interest on arrears...
