RAMCHANDER NAIK vs SPL. DY. COLLECTOR, LAND ACQN.

The Supreme Court affirmed that the Land Acquisition Act, 1894 is a self-contained statute governing interest rates and market price fixation. It upheld the High Court's decision to award interest at 4 percent for awards made prior to amendments, referencing precedents in Spl. Dy. Collector v. Y. Venkahha Chowdhary and Jawajee Nagnatham v. Revenue Divisional Officer. Consequently, the appeals were dismissed without costs.