Dravya Finance Pvt.Ltd & Anr vs S.K. Roy & Ors

The Supreme Court addressed a limited review petition concerning the calculation of interest payable by the Life Insurance Corporation (LIC) to the petitioners as per the final order dated 10th December 2015 in Civil Appeal No. 8543 of 2009. The Court clarified that interest should be calculated at the prevailing bank rate as per Section 8(5) of the Insurance Regulatory and Development Authority (Protection of Policy Holder Interest) Regulations, 2002, and determined the date from which this interest should be calculated. The contempt proceedings were closed, and the matter was treated under review jurisdiction, allowing the petitioners to accept interim payments without prejudice to their claims.