At the time of settlement, Adjudicating Authority exercising the power under Rule 11 of NCLT rules, 2016 may direct the Appellant to pay interest for the period of delay in payment- M/s B.E. Billimoria and Company Ltd. Vs. M/s Vikram Ispat Udyog -NCLAT
NCLAT held that the Adjudicating Authority exercising the power under Rule 11 of National Company Law Tribunal rules, 2016 which empowers the Tribunal to make such orders as may be necessary for meeting the ends of justice or to prevent abuse of the process of the Tribunal, directed the Appellant to pay interest @ 12% only for the period of delay in payment. Thus, the order is justifiable and agreeable.