Determination of compensation and interest

Determination of compensation and interest.—

1. (1) The Authority shall determine the amount of compensation for the land to be acquired and also the rehabilitation and resettlement entitlements or such other matters as provided in the Act, in accordance with the provisions of the First and Second Schedules.
2. (2) After the passing of an award under this Chapter, the Authority shall, in addition to the compensation payable under sub-section (1), award interest at the rate of nine per cent. per annum on the amount of such compensation, to be paid from the date of the award to the date of payment of compensation: Provided that if the compensation is not paid within a period of one year from the date of the award, such interest shall be increased to fifteen per cent. per annum for the period exceeding one year.