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Judgment
Heard learned counsel for both sides at length. Learned counsel for respondent vehemently argued that dues and interest upto 31.3.2014 is with no dispute. Payment made as ‘part payment’ with regard to above period was shown in the statement by petitioner. But it was adjusted towards penal interest etc. Hence, a calculation of the amount due as well as towards interest is to be got obtained by a meticulous calculation and same is to be brought on record before this Tribunal for coming to a correct arithmetic calculation.
The main dispute is with regard to period from 1.4.2014 to 15.7.2015. Although the minutes of meeting filed on record is with this admission that respondent is intending and ready to make the payment of principal amount and the interest, which has been claimed as penal interest, is to be dispensed with, though the extension of agreement is being disputed and the agreement of year 2010 was with no mention of the person who had requested for extension of period. A communication was made with above authority, which ought to be made with authority, given as customer in the above agreement. Even then, respondent is ready for making payment.
As the amount being admitted to be paid voluntarily, and interest is to be specified after calculation by the respondent. Let calculation of amount of dues towards principal for undisputed period as well as for disputed period be got filed by respondent. The interest intended to be paid be also calculated and given with specific mention of interest @ 9% p.a, which have oftenly been awarded by this Tribunal in previously decided cases.
This calculation of amount is also to be served to learned counsel for petitioner for its checking and verification alongwith objection, if any, by UOI.
This calculation of amount may also be filed with calculation sheet, said to be dues towards principal and interest as per UOI.
Both sides are directed to file positively it by 22.11.2022.
List the matter under the same head on above date.