Section 16
Interest on awards.
The Coal Bearing Areas (Acquisition and Development) Act, 1957
About this Act
An Act to establish in the economic interest of India greater public control over the coal mining industry and its development by providing for the acquisition by the State of unworked land containing or likely to contain coal deposits or of rights in or over such land, for the extinguishment or modification of such rights accruing by virtue of any agreement, lease, licence or otherwise, and for matters connected therewith.
If the sum which in the opinion of the Tribunal ought to have been
awarded as compensation is in excess of the sum which the Central Government has stated to be a fair
amount of compensation, the award of the Tribunal may direct that the Central Government shall pay
interest on such excess at the rate of five per centum per annum from the date on which it became payable
to the date of payment of such excess.