Section 17(3) in U.P. Sugarcane (Regulation Supply and Purchase) Act, 1953
(3)Where the person liable under sub=section (2) is in default in making the payment of the price for period exceeding fifteen days from the date of delivering, he shall also pay interest at a rate of 7-1/2 per cent per annum from the said date, with the approval of the State Government, that no interest shall be paid or be paid at such reduced rate as he may fix:[Provided that in relation to default in payment of price of cane purchased after the commencement of this proviso, for the figure '7-1/2 the ' figure 12' shall be deemed substituted.]
