Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993; Section 3- After enactment of the proviso to Section 3, the contractual rights of the parties to agree to the date of payment, have been restricted in terms of the said proviso. In other words, if the contractual date of payment exceeds 120 days from the day of acceptance or the day of deemed acceptance, interest would be payable for the period beyond 120 days from the day of acceptance or the date of deemed acceptance. (Para 8)