Question
Where any amount is payable whether in instalments or
otherwise under section 13 of the General Insurance Business (Nationalisation) Act, the unpaid amount, where its payment has become due shall carry interest at the rate of ____________ from the appointed daySolution
Section 13. Mode of payment: (2) Where any amount is payable whether in instalments or otherwise under the provisions of this section, the unpaid amount, where its payment has become due shall carry interest at the rate of four per cent. per annum from the appointed day.
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