jaiaawjisiddha jaiaawjisiddha is offline
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  1. jaiaawjisiddha
    I had drawn a LTC advance of Rs. X for travelling to hometown. The advance was drawn on 4/3/2011, (since rail tkts can be booked 90 days in advance) and the date of journey was 20 May, 2011. Due to education related problem of my children studying in Board class, I had to cancel the journey. Accordingly, the tickets were cancelled 2 days before the date of journey i.e. on 18 May, 2011. Since IRCTC takes about 2 days to refund the cancellation amount against Etickets, I received the refund on 20 May, 2011. I returned the full advance amount on the first working day following receipt of the refund (Saturday & Sunday is holiday in my institute). However, my institute has charged me interest on the amount, saying that I held the amount with me. Ideally speaking, I was holding the (refund) amount only for 2 days i.e. 21 & 21 May. The amount was actually with Railways before the cancellation. My question is :-

    1) Can interest be charged in such a case ?
    2) If yes, for what period ?
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