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Judgment
PETITIONER was the opposite party in the complaint before the District Forum. In this batch of revision petitions, the complaint of respondents was that after their FDRs had matured, they were given the money on the date of maturity. However, during the currency of the FDR period, rate of interest had been enhanced.
THIS amount was not paid to the complainants. This amount was paid only during the pendency of the proceedings before the District Forum. The question before the District Forum, was if the amount should carry interest and, if so, at what rate. Since the amounts had been withheld by the petitioner without any apparent reason, the District Forum directed that for the period of delay, there will be interest at the rate of 10% payable to the complainants. The petitioners were directed to pay this amount within one month. The petitioners, however, went in appeal to the State Commission against the order of the District Forum. By judgment dated 24.10.1992, while upholding the order of the District Forum, the State Commission directed that enhanced payment shall be made latest by 15th December, 2001, and further that the amounts, as found, by the District Forum shall carry interest at the rate of 18% p.a. from 16.12.1992 till the date of payment. We find no error in the impugned order to exercise our jurisdiction under Section 21(b) of the Consumer Protection Act.