In Brief
Jermyn Capital LLC sought modification of a Supreme Court order dated 9 May 2023 that allowed the company to withdraw ₹38.52 crore plus 4% simple interest from 2006. The company produced copies of earlier Securities Appellate Tribunal and Supreme Court orders directing these funds be held in bank fixed deposits to earn higher interest. The Court modified paragraph 21 of its earlier order, permitting Jermyn Capital to withdraw the principal amount along with the actual fixed deposit interest accrued thereon, rather than the stipulated simple interest rate.
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