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Judgment
Hon’ble Ms. Harvinder Kaur Oberoi, Member (J):-
At the outset, learned counsel for the respondents submits that all payments due and payable to the applicant have been released. The said submission is, however, disputed by learned counsel for the applicant, who submits that, upon calculation, the amount received by the applicant falls short of the amount actually payable. Learned counsel for the respondents, on the other hand, submits that the calculation furnished by the applicant is itself erroneous, as it proceeds on the premise that interest is to be compounded on a monthly basis in respect of each individual payment. According to learned counsel for the respondents, the correct method of calculation, in terms of the GPF provisions, is to be applied on annual basis and not on monthly basis.
Learned counsel for the respondents submits that the aforesaid principle has been followed while making the payment and that the amount of interest, as calculated in accordance with the applicable GPF rate, has already been paid to the applicant.
In view of the above, we are not inclined to examine, in the present contempt proceedings, the correctness or otherwise of the respective calculations of interest. Broadly, it is not disputed that the principal amount as well as the interest thereon has been paid to the applicant. Accordingly, we are satisfied that the order passed by this Tribunal has been complied with.
In view of the above, and since compliance with the order of this Tribunal has been made, we are not inclined to proceed further with the present Contempt Petition. Accordingly, the present Contempt Petition stands closed, with liberty to the applicant to agitate his grievance, if any, in accordance with law. Notices issued, if any, stand discharged.