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Judgment
Heard. Perused the record.
This appeal has been filed under section 19 of the Act 1986 in challenge to the Order dated 05.10.2015 of the State Commission in complaint no. 58 of 2015.
The State Commission vide its impugned Order had directed the appellant builder co. to refund an amount of Rs.29 lakh deposited by the respondent complainant with interest at the rate of 9% per annum along with Rs.10 thousand as lumpsum compensation and Rs.10 thousand as cost of litigation.
In the proceedings before this Commission on 17.09.2021 it had been submitted by both learned counsel, on respective instructions, that out of the deposited amount of Rs. 29 lakh an amount of Rs. 20 lakh had since been refunded by the builder co. to the complainant.
The learned counsel for the builder co. submits, on instructions, that, to put a period to the lis, the builder co. is willing to pay the balance deposited amount of Rs.9 lakh along with quantified amount of Rs.18 lakh towards interest and lumpsum compensation and cost of litigation i.e. total Rs.27 lakh to the complainant within 12 weeks from today. He also requests that this may not be treated as a precedent.
The learned counsel for the complainant submits, on instructions, that the terms being offered by the builder co. are acceptable to him.
The learned counsel for the complainant further submits, on instructions, that in case the said amount of Rs.27 lakh is not made good within 12 weeks from today the same may then carry interest at the rate of 7.5% per annum from the date of expiry of 12 weeks from today till the date(s) of actual realization.
The learned counsel for the builder co. agrees, on instructions.
In the wake of above submissions, the instant appeal no. 930 of 2020 is disposed of with the direction that the builder co. shall pay an amount of Rs.27 lakh to the complainant within a period of 12 weeks from today failing which the said amount shall carry interest at the rate of 7.5% per annum from the date of expiry of 12 weeks from today till the date(s) of actual realization.
This Order has been passed on consent. As such the decision in this case shall not be treated as a precedent.
The Registry is requested to send a copy each of this Order to the parties in the appeal and to their learned counsel immediately. The stenographer is also requested to upload this Order on the website of this Commission immediately.