Ram Narayan Gupta vs State Of M.P

The Supreme Court held that under the Land Acquisition Act, the statutory interest must be awarded as per the provisions of the statute, specifically stating that the courts do not have discretion to award a lower interest rate. The Court modified the High Court's judgment, directing that the appellant be paid statutory interest at the rate of 9% per annum for the first year and thereafter at 15% per annum. The appeal was allowed, enhancing the interest awarded to the claimant.