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Issues involved:
The entitlement of interest on the amount awarded by Arbitrator for the requisition of premises u/s Requisitioning and Acquisition of Immovable Property Act 1952. Judgment Summary: The Supreme Court, in a judgment delivered by Justice Sabyasachi Mukharji, addressed the issue of interest entitlement on the amount awarded by an Arbitrator for premises requisitioned u/s Requisitioning and Acquisition of Immovable Property Act 1952. The Court reiterated the principle that upon the expropriation of land under statutory power, the owner is entitled to interest from the date possession was taken, unless the statute clearly shows a contrary intention. The Court held that the claim for interest proceeds on the assumption that the owner, upon losing possession of immovable property, is entitled to claim interest in place of the right to retain possession. The Court affirmed that the general rule of payment of interest should not be excluded by the Act, and the appellants were entitled to interest on the amount awarded for the period specified. The interest rates were determined based on the respective periods, and the appellants were also awarded costs of the appeal. In conclusion, the Court directed the respondents to pay the awarded amount within three months and granted liberty to apply to the High Court of Calcutta in case of difficulty in calculating the amount. The appellants were further granted costs of the appeal, and the appeal was disposed of accordingly.
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