Para 4.6.7 — CAM

4.6.7 Reporting of Penal Interest: i. Total delayed amount, which has not been remitted in time as per the above timelines and the penalty due along with details of individual cases will be intimated by the concerned Pr. CCAS/CCAS/CAs (for the Non- Civil Ministries by the concerned Head of the Department) to the Head Office of the bank concerned on a quarterly basis, by 15th of the following month (i.e. for the quarter ending June, the cases should be sent by 15th July) along with all necessary documents. ii. Where penal interest payable is based on audit, all delays in remittance of receipts of Government along with Penal interest payable should be reported to the concerned banks within 3 months of completion of audit. iii. In exceptional cases where Ministry Department is not able to lodge the penal interest claim within the stipulated time frame prescribed above, a case for seeking relaxation with full justification would be sent to CGA for consideration.