6. Payment of amount.—(1) For the transfer to, and vesting in, the Central Government, under
section 3, of the right, title and interest of each of the two specified companies in relation to its
undertakings, there shall be paid in cash by the Central Government, before the expiry of a period of three
months from the appointed day,—
(i) to the Chaparmukh-Silghat Railway Company Limited, an aggregate amount of rupees ten
lakhs and fifty thousand; and
(ii) to the Katakhal-Lalabazar Railway Company Limited, an aggregate amount of rupees nine
lakhs.
(2) Notwithstanding anything contained in sub-section (1), out of the amount referred to in
clause (i) of that sub-section, the Central Government shall deduct, in the first instance, any amount due
from the Chaparmukh-Silghat Railway Company Limited to that Government and the liability of that
company shall, to the extent of such deduction, stand discharged and such deduction shall have priority
over all other debts, secured or unsecured.
(3) Notwithstanding anything contained in sub-section (1), out of the amount referred to in clause (ii)
of that sub-section, the Central Government shall deduct, in the first instance, the amount due from the
Katakhal-Lalabazar Railway Company Limited in respect of the secured debentures issued by that
company and shall pay the sums so deducted for the redemption of such debentures and the liability of
that company in relation to the said debentures shall, to the extent of such deduction, stand discharged and
such deduction shall have priority over all other debts, secured or unsecured.
7. Interest.—The amount referred to in clause (i) or clause (ii) of sub-section (1) of section 6 as
reduced by the deduction under that section, shall, if not paid to the company concerned before the expiry
of the period specified in the said sub-section, carry simple interest at the rate of four per cent. per annum
for the period commencing on the appointed day and ending on the date on which payment of such
amount as so reduced is made by the Central Government to that company:
Provided that if the amount as so reduced is tendered to the specified company but not accepted by it,
no interest shall run from the date of such tender.