21/11/2009 <br /> Complainant:-DL<br /> Opposite-Party:-KM<br /> O.P.1 & 2<br /> <br /> The complainant has filed his complaint for refund of Rs. 3,71,330/- paid to the opposite parties with interest and compensation. As per the complaint averments the complainant and his banker have paid in all Rs. 7,11,330/- to the opposite party for apartment. However, out of that amount, the complainant has stated that opposite party has refunded Rs. 3,40,000/- and the balance amount payable by the opposite party is Rs. 3,71,330/-. As regards this aspect is concerned, there is absolutely no dispute between the parties. The learned counsel for the opposite party has fairly and rightly submitted that there is absolutely no dispute regarding the payment made by the complainant and also the balance amount to be refunded to the complainant. The only point for consideration is the rate of interest to be awarded on the refund amount. The complainant requested for granting 21% interest p.a on the amount. Whereas the learned counsel for the opposite party has agreed and submitted that 15% interest p.a. may be awarded since the Hon’ble State Commission is also awarding 15% interest on the refund amount. So in view of this submission it would be just, fair and reasonable to grant 15% interest p.a. to the amount paid by the complainant from the date of respective payment received by the opposite party. The grant of interest will take care of the compensation. Therefore, there is no need to grant any amount on the head of compensation. In the result, I proceed to pass the following:-<br /> ORDER<br /> 2. The complaint is allowed. The opposite party is directed to refund Rs. 3,71,330/- tothe complainant along with 15% interest p.a from the date of respective payment till payment/realisation.<br /> <br /> 3. The opposite parties are also directed to pay Rs. 5,000/- as cost of the present proceeding to the complainant. <br /> <br /> 4. Send the copy of this Order to both the parties free of costs as statutory requirements. <br /> <br /> 5. Pronounced in the Open Forum on this 21st DAY OF NOVEMBER 2009. <br /> Order accordingly,<br /> <br /> PRESIDENT<br /> I concur the above findings.<br /> <br /> MEMBER<br /> rhr., <br />