Gopikishan S. Damani vs A.K. Menon And Anr.

The Supreme Court held that under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, the Custodian is entitled to claim interest at the rate of 24% on the outstanding amount due from the appellant. The Court affirmed the Special Court's decree for Rs. 90,48,631/- along with interest from 1st April, 1992 to 9th December, 1994, clarifying that the payment made would first be adjusted towards interest. The Court emphasized that the appellant's payment was made without prejudice to further liabilities, and the decree was to be marked as fully satisfied upon timely payment of the specified interest.