(1) The owner of the undertaking shall be given by the Government, in cash and in the manner specified in Chapter VI for the transfer to, and vesting in, it under sub-section (1) of section 3, of such undertaking and the right, title and interest of the owner in relation to the undertaking, an amount equal to the amount specified against it in the corresponding entry in column (3) of the First Schedule.
(2) In addition to the amount referred to in sub-section (1), there shall be given by the Government, in cash, to the owner of the undertaking, simple interest at the rate of four per cent per annum on the amount specified against such owner in the corresponding entry in column (3) of the First Schedule for the period commencing on the date of commencement of this Act, and ending on the date on which payment of such amount is made by the Government to the Commissioner.