Section 79(1) in The Bihar (Coal Mining) Area Development Authority Act, 1986
(1)The net amount payable under the provisions of this Act by the owner of a plot included in a scheme may at the option of the contributor, be paid in one lump sum or annual instalments not exceeding ten. If the owner elects to pay the amount by instalments, interest at the rate of 12 per cent per annum shall be charged on the net amount payable. If the owner of a plot fails to elect the option on or before the date specified in a notice issued to him in that behalf by the Authority, he shall be deemed to have elected the option of paying contribution by instalments and the interest on the contribution shall be calculated from the date specified in the notice, being the date before which he was required to make an election as aforesaid:Provided that, where an owner elects to pay the amount in one lump sum but fails to do so, interest upto a maximum of 12 per cent per annum shall be payable by him to the Authority, from the date specified in the notice of the date of payment.
