US Edition12% interest to be paid in case of default to pay compensation from the due date: Karnataka HC - Business Manager
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12% interest to be paid in case of default to pay compensation from the due date: Karnataka HC - Business Manager
The Karnataka High Court, in Sanjeev Kumar vs. Sri Akash &Anr. (Misc. FA No. 201018/2019), on June 3, 2025, modified the award issued by the Industrial Tribunal by increasing the interest payable on the compensation from 7.5% per annum to 12% per annum, effective from the date of the incident. In doing so, the Court relied on the precedent set by the Supreme Court in Shobha and Others vs. Chairman, Vithalrao Shinde Sahakari SakharKarkhana Limite…
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