Section 26(9) in The Sugar Development Fund Rules, 1983
(9)(a)The restructured loan under this rule shall carry a rate of simple interest equivalent to the prevailing Reserve Bank of India bank rate, from the date of implementation of the rehabilitation package.(b)In case of any default in repayment of the amount of loan or payment of any instalment thereof or interest thereon on the restructured loan, an additional interest at the rate of [six percent per annum on the amount of default or at such rate as may be decided by the Central Government shall be] [Substituted vide GSR 599 dated 30.07.2012.] payable by the sugar undertaking.
