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Judgment
This appeal has been filed under section 19 of the Act 1986 in challenge to the Order dated 15.11.2019 of the State Commission in complaint no. 628 of 2017.
Heard the learned counsel for the appellant (the ‘builder co.’) and the learned counsel for the respondent (the ‘complainant’). Perused the record.
The State Commission has ordered the builder co. to refund a sum of Rs.55,10,577/- to the complainant with interest at the rate of 15% per annum, with the stipulation that if the payment is not made within three months the rate of interest shall stand enhanced to 18% per annum for the defaulting period. It has also awarded Rs.2,00,000/- as lumpsum compensation and Rs. 44,000/- as cost of litigation.
Learned counsel for the builder co. submits on instructions that the builder co. is ready and willing to unconditionally refund the principal amount of Rs. 55,10,577/- with interest at the rate of 12% per annum and to pay the lumpsum compensation of Rs. 2,00,000/- and the cost of litigation of Rs. 44,000/- within three months from today without fail.
Learned counsel for the complainant submits on instructions that the afore terms offered by the builder co. are acceptable to the complainant.
In the wake of the above submissions nothing remains to be adjudicated in this appeal and the same is disposed of with the directions that the principal amount of Rs. 55,10,577/- shall be refunded by the builder co. with interest at the rate of 12% per annum and the lumpsum compensation of Rs. 2,00,000/- and the cost of litigation of Rs. 44,000/- shall be paid by the builder co. to the complainant within three months from today, failing which the State Commission shall forthwith undertake execution, for ‘enforcement’ and for ‘penalty’, as per the law.
This Order has been made 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 as well as to the State Commission immediately. The stenographer is also requested to upload this Order on the website of this Commission immediately.