R.D. Rao vs Chairman And M.D., Punjab National Bank ...

The Supreme Court granted leave and held that the appellant is entitled to a total payment of Rs. 42,420 along with interest at the rate of 12% from the date of filing the writ petition (C.W.P. No. 512/93). The Court found merit in the appellant's claims regarding differences in pay and other emoluments but declined to grant the punitive interest of 24% as requested. The judgment clarifies the basis for calculating interest and the effective date from which it should be applied.