ORDER NO. 3 DT. 11.4.11

HON’BLE JUSTICE MR. P.K.SAMANTA, PRESIDENT

DHr is present in person.  JDr is present through Ms. K.Mukhopadhyay, Ld. Advocate.  Heard both sides. 

In this Execution Case the only grievance of the Complainant/DHr is that the Respondent/Insurance Company in making payment to the complainant pursuant to the judgement and order of the Hon’ble National Commission dt. 6.10.09 has not paid the exact amount of interest payable to him.

Hon’ble National Commission disposed of the Appeal by directing the Respondent/Insurance Co. to pay a sum of Rs. 4,95,000/- to the complainant along with interest @ 9% per annum from January till the date of payment.  The Insurance Co. was directed to pay the said amount within a period of six weeks, failing which the rate of interest would stand increased to 12% per annum.

It is not in dispute that the payment was made to the complainant after the expiry of the period of six weeks.  It is also evident from the records of this case that the cheques were drawn in favour of the complainant both in respect of the aforesaid principal awarded amount of Rs. 4,95,000/- and the interest accrued thereon on 30.3.10 and 9.4.10 respectively.  Unfortunately, the interest was calculated on the aforesaid principal amount of Rs. 4,95,000/- till 12.3.10.  Furthermore, the said cheques were though drawn on the aforesaid dates, but the same were posted for delivery to the complainant on 19.4.10.  We are, therefore, of the view that the complainant is entitled to interest on the aforesaid principal amount of Rs. 4,95,000/- @ 12% per annum for the period from 13.3.10 till 19.4.10 when the aforesaid cheques were posted for delivery to the complainant.  Upon calculation of such interest @ 12% per annum on the aforesaid amount of Rs. 4,95,000/- for the period from 13.3.10 till 19.4.10 the same stands at Rs. 6,346/-. 

The Execution Case is accordingly disposed of by directing the JDr/Insurance Company to pay the aforesaid amount to the complainant by 30.4.11 positively.  In default, the complainant will be at liberty to bring the matter to the notice of the State Commission.  It is further recorded that the OP/Insurance Co. shall issue the TDS Certificate to the complainant for the income tax deducted from the interest accrued on the aforesaid principal and paid to the complainant as indicated in the letter dt. 16.4.10 issued by the JDr/Insurer peremptorily by the aforesaid date (30.4.11).