Supreme Court says court deposits do not halt interest accrual
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AI-generated summary of the coverage listed below: The Supreme Court ruled that money deposited in court during an appeal does not count as payment and does not relieve a debtor of liability. The decision, made by Justices P S Narasimha and Alok Aradhe, emphasizes that such deposits are not automatically transferred to creditors. The court urged the Law Commission to create uniform rules for handling these deposits, aiming to clarify the legal process for all parties. QUOTE: "Court deposits don’t stop interest clock," Supreme Court seeks uniform rules for such funds — Deccan Herald
Covered by 4 outlets across the spectrum: 25% left, 75% center, 0% right.
Who is covering this story
- Left-leaning (1): The Hindu
- Center (1): Deccan Herald
Sources
- CBDT circulars cannot override Income Tax Act: Supreme Court — Deccan Herald (center)
- 'Court deposits don’t stop interest clock,' Supreme Court seeks uniform rules for such funds — Deccan Herald (center)
- Denial of anticipatory bail in one case no bar for relief in another: Supreme Court — Deccan Herald (center)
- Supreme Court wants law to safeguard multi-crore court deposits — The Hindu (left-leaning)