#interest calculation

The Bombay High Court (Aurangabad Bench) ruled that interest on land acquisition compensation accrues from the date of the award under Section 11, not the notification date under Section 4(1). This aligns with the Full Bench decision in State of Maharashtra v. Kailash Shiva Rangari, impacting pending and future land acquisition disputes in Maharashtra.

The Bombay High Court (Aurangabad Bench) ruled that compensation for acquired land must be calculated based on market value from transactions preceding the acquisition notification. The court also denied rental compensation for periods of pre-notification possession and clarified that interest on compensation accrues from the award date. This decision reinforces evidentiary standards for comparable sales and limits additional claims under the Land Acquisition Act.

Bombay High Court clarifies that interest under Section 34 of the Land Acquisition Act must be calculated from the date of the award, not possession, while upholding Rs. 4,00,000 per acre compensation for dry land. The ruling disallows rental compensation and sets a precedent for future land acquisition disputes involving delayed payments.

The Orissa High Court has ruled that interest on railway accident compensation must begin accruing from the date of the accident, not from the date of evidence or award, reinforcing the Supreme Court’s precedent in Union of India v. Rina Devi. This ensures timely justice for victims’ families and prevents unjust delays in compensation disbursement, except for minor beneficiaries where shares are held in trust.

The Madhya Pradesh High Court ruled that interest under the Workmen's Compensation Act must be calculated at 12% per annum from the date of the accident, not from the award date. Additionally, daily diet allowances cannot be included in the salary base for compensation calculations, impacting wage definitions for injured workers.

Bombay High Court clarifies that interest under RERA must be calculated only until the date of actual possession claimed by the buyer, not the date of the appellate order.

Madhya Pradesh High Court holds that RERA-ordered interest must be judicially determined before recovery proceedings under Land Revenue Code can proceed.