O R D E R<br /> <br /> <br /> <br /> <br /> <br /> SRI.D.KRISHNAPPA, PRESIDENT:<br /> <br /> <br /> <br /> The grievance of the complainants against the OP in brief is that the they after noticing the advertisement given by the OP offering to promote project as ORCHID SPRINGS in various survey Nos at Annanagar central Chennai. They opted for a flat for super built up area of 1700 Sq.fts. as residential blocks. Blocks at Rs.990/- per Sq.ft. worked out to Rs.16,83,000/-. That they deposited the entire amount on 09/02/2006 with OP on 14/02/2006 entered into a sale agreement with option to chose any apartment in any floors of the project. OP agreed to complete the construction within 24 month from the time obtaining CMDA approvals and possession of the apartment would be delivered within 30 days from the date of obtaining occupancy certificate. The OP had also agreed to buy back apartment after 24 months from the date of execution of the agreement of sale at minimum guaranteed price of Rs.32,30,000/-. In the case of delay in payment, OP had agreed to pay 24% interest on delayed payment as per the agreement. That during February 2008 OP had allotted an apartment in the 3rd floor in block No:5 measuring 1723 sq.fts Finding that allotment of flat in the 3rd floor of block No:5 was not agreed they declined to accept the allotment and therefore opted for cancellation of agreement of sale and opted to the proposal of buy back agreement and that OP on 25/06/2008 paid him the buy back money of Rs.32,30,000/- through two cheques one on 25/06/2008, for Rs.20,00,000/- and another for Rs.12,30,000/- on 30/09/2008. Thereafter the OP agreed to pay interest at 24% p.a. on the delayed pay back amount and paid Rs.2,32,000/-. That cheque given by the OP for Rs.12,30,000/- when sent for collection was dishonored. Thereafter, he paid Rs.5,00,000/- on 23/10/2008 and 7,30,000/- on different dates and therefore, has prayed for interest for delayed payment Rs.12,30,000/- worked out to Rs.63,000/- and compensation with cost.<br /> <br /> <br /> <br /> OP has filed version through his advocate contending that the complaint is not maintainable and it does not come within the ambit of Consumer Protection Act. Further denying to had agreed to pay interest at 24% p.a. on delayed payment as also denied their liability to pay interest as claimed and other reliefs. OP admitting to had paid buy back cost of Rs.32,30,000/- has denied his liability to pay interest and stated that there is no agreement for paying interest and he is not liable also and the amount he has paid towards interest is paid wrongly and is an excess payment and submitted for dismissal of the complaint.<br /> <br /> <br /> <br /> In the course of enquiry into this complaint, the 1st complainant and are Bommireddy for OP have filed their affidavit evidence reiterating what they have stated in their respective complaint and version. The complainants along with the complaint have produced a copy of booking form, copy of cheque for having paid sital value a copy agreement of sale, copy of cancellation cum buy back agreement, and copy of cheque received towards interest and a calculation of interest made by the complainants themselves. OP have not produced any documents. Heard the counsel for the complainant and perused the written arguments filed by the counsel for OP and perused the records. <br /> <br /> <br /> <br /> On the above contentions following, points for determination arise.<br /> <br /> <br /> <br /> 1. Whether the complainants prove that the OP had agreed to pay interest at 24% p.a. on delayed payment of buy back money?.<br /> <br /> <br /> <br /> 2. To what relief the complainant is entitled to?<br /> <br /> <br /> <br /> Answer on point No:1 In the negative .<br /> <br /> Answer on Point No:2 To see the final order.<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> REASONS:<br /> <br /> <br /> <br /> <br /> <br /> Answer on point No:1: As we have now seen from the contentions of the parties, on the OP failing to provide apartment to the complainants as agreed he under the buy back agreement purchased the flat offered to the complainants for themselves by paying minimum guaranteed value of Rs.32,30,000/- as per the cancellation Cum buy back agreement dtd:25/06/2008. The complainants have admitted that the cheque given for Rs.20,00,000/- towards part of buy back money was encashed but contended that another cheque given by the OP for Rs.12,30,000/- towards balance buy back money was bounced and that amount was paid to them in three installments after some delay and therefore, contended that the OP as agreed is liable to pay Rs.63,000/- towards interest on that delayed payment. The complainant has further stated that the OP has paid interest of Rs.2,32,000/- but as not paid the balance amount as claimed.<br /> <br /> <br /> <br /> OP not only in his version but also in his affidavit evidence denied that there has been any agreement or liability to pay any interest leave alone 24% as claimed and thus, has rejected the claim of the complainants for payment of interest. We have seen carefully all the documents produced by the complainants including the copy of cancellation Cum buy back agreement. No where we find any clause or agreement between the parties to pay interest on the delayed buy back price payment. Therefore, as rightly contended by the OP there is no agreement or admission of the OP to pay interest at 24% p.a. or at any rate. The counsel for the complainant has also not brought to our notice any such liability of the OP to pay interest on the buy back price as such we find no merits in the claim of the complainants in this regard.<br /> <br /> <br /> <br /> No doubt OP admitted to have paid Rs.2,32,000/- wrongly which is an excess amount paid to the complainants and they are bound to return it, but that does not confirm enforceable right on the complainants to initiate this complainant to direct to OP to interest. Hence, we find no deficiency on the part of OP in not paying and we answer point No:1 in the negative and pass the following order.<br /> <br /> <br /> <br /> <br /> <br /> O R D E R<br /> <br /> <br /> <br /> <br /> <br /> Complaint is dismissed. Parties to bear their own cost. <br /> <br /> <br /> <br /> Dictated to the Stenographer, Got it transcribed and corrected. Pronounced in the Open Forum on this the 09th March 2010.<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> MEMBER MEMBER PRESIDENT<br />