This Writ petition has been filed by the petitioner for issuance of a Writ of Mandamus, directing the respondents to pay interest at the rate of 18% per annum for the belated payment of the Gratuity and Commuted Value of Pension within the stipulated time.
2. Heard the learned counsel appearing for the petitioner and the learned Standing Counsel appearing for the respondents.
3. Mr.K.Sathiya Singh, learned Standing Counsel for T.N.S.T.C., takes notice for the respondents. By consent, the Writ petition itself is taken up for final disposal.
4. Having regard to the narrow scope of the present Writ petition, the Writ petition itself is taken up for disposal with the consent of both the learned counsel. The issue in the present Writ petition is only relating to the payment of interest. The fact that there was a delay in settling the Gratuity and Commuted value of pension is not in dispute. Though the learned counsel for the petitioner claim interest at the rate of 18% p.a., for the belated payment of the Gratuity and Commuted value of pension, he has restricted his claim to 6% p.a., with a default interest at the rate of 18% p.a., as it has been repeatedly held by the Hon'ble Division Bench.
5. Hence, this Writ petition is disposed of with the direction to the respondents to pay interest at the rate of 6% p.a., for the belated payment of the Grautuity and Commuted value of pension within a period of three months from the date of receipt of a copy of this order. In case of further delay beyond 3 months, the respondents are liable to pay interest at 9% p.a. No costs.
To
1.State Express Transport Corporation, (Tamil Nadu) Ltd., Represented by its Managing Director, Pallavan Salai, Chennai-02.
2.The Administrator, The Tamil Nadu State Transport Corporation Pension Fund Trust, Thiruvalluvar House, Pallavan Salai, Chennai-600 002..