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Judgment
The instant application is filed for condonation of delay of 72 days in filing the appeal. After considering all facts, the delay of 72 days in filing the appeal is condoned. The application is accordingly allowed.
Neelam Chaudhary and Mohit Choudhary filed S.A. No.05/2021 titled as Neealm Choudhary & another V Punjab National Bank & others which was pending before DRT-I, Chandigarh. DRT-I, Chandigarh vide order dated 19.01.2023 has allowed the S.A. and directed the respondent no.1 Punjab National Bank to refund the sale consideration deposited by the appellant who was respondent no.4 before DRT, along with interest @6% per annum from the date of deposit till the date of payment. The appellant is stated to be the auction purchaser. It is also stated that except the appellant / respondent no.4 no other concerned party has preferred appeal against the impugned order dated 19.01.2023.
Sh. Kanhaiya Singla, Advocate for the appellant stated that in the present appeal the appellant is only challenging the rate of interest which was awarded by the DRT and prayed that the said rate of interest may be increased to 18% per annum. Sh. Singla during the course of arguments, however, stated that the rate of interest may be increased from 6% per annum to 12% per annum under the given facts and circumstances of the case.
In the opinion of this Tribunal, it would be in the fitness of things if the 6% interest is enhanced to 12% per annum. It is ordered accordingly. All other directions passed by the DRT vide order dated 19.01.2023 shall remain as it is. The appeal is decided accordingly.