Section 24 in The M.P. State Aid to Industries Rules, 1959
24.
On every instalment of principal or of interest which is not paid on the date fixed for payment, a penalty at the rate of 8% per annum shall be levied from the said date :Provided that the State Government may, in cases in which it finds sufficient reasons for doing so, remit such penalties in whole or in part subject to the payment of interim interest during the moratorium period.
