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Judgment
I.A. No. 2308/2017
I have heard the learned counsel for the parties. For the reasons stated in the application, I am satisfied that the delay in filing the present appeal is neither continuous nor intentional. Therefore the delay in filing the present appeal is condoned. I.A. No. 2308/2017 is allowed and stands disposed of accordingly. F.A. No. 322/2017
Issue notice of appeal to the respondent. Ms. Archana Kakade, learned counsel accepts notice on behalf of the respondent.
Heard.
The only issue involved in this case is as to whether the respondent/complainant is entitled to interest @18% per annum in addition to the lumpsum compensation of 1,75,000/- awarded by the State Commission. No evidence was led by the complainant before the State Commission to prove that extent of the financial loss suffered by him on account of the failure of the appellants to deliver the possession of the flat in question. The learned counsel for the appellants stated that the appellants are ready to deliver the possession of the said flat to the complainant in a time bound manner. The complainant, however, does not want to take possession of the flat and wants only refund of the money paid by with compensation and interest.
Considering that the compensation in the form of interest has to commensurate with the loss suffered by the consumer, no evidence was led by the complainant to prove that the loss suffered by him on account of appreciation in the value of the property was more than 12% per annum, the complainant, in my view should be satisfied with compensation in the form of interest @12% per annum from the date of each payment made by him till the date of return alongwith the lumpsum compensation of 1,75,000/- awarded by the State Commission as offered by the learned counsel for the appellants on instructions from the appellant.
Ordered accordingly. The payment in terms of this order to extent already not paid shall be made within four weeks. A pay order of 33,54,482/- has been handed over to the learned counsel for the respondent/complainant today in the court. The appeal stand disposed of accordingly.