Thursday, January 2, 2020

HC Orders TNSTC to Pay Penal Interest for Delayed Payment of Retirement Benefits

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The Madurai Bench of Madras High Court, on 03 Dec 2019, has ordered The Tamil Nadu State Transport Corporation (Kumbakonam) Ltd. "to pay the penal interest at the rate of 6% per annum on the belated payment of the retirement benefits for the period from the date of the retirement till the date of actual disbursement, as expeditiously as possible and in any event, not before the expiry of three months from the date of receipt of a copy of this order."

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