Payment of amounts

(1) For the transfer to and vesting in the State Government under section 3, of the shares of the Company, there shall be given by the State Government to the concerned shareholders of the Company in cash and in the manner specified in section 6, an amount of rupees ten for each preference share of rupees one hundred and rupee one for each equity share of rupees ten. (2) The amount referred to in sub-section (1), shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the State Government to the Commissioner.