Chandigarh

StateCommission

CC/248/2018

Kapil Dev Sharma - Complainant(s)

Versus

M/s Manohar Infrastructure and Constructions Private Limited - Opp.Party(s)

Rakesh Verma & Manish Verma, Adv.

29 Oct 2018

ORDER

Rejoinder not filed.

                   The matter has amicably been settled between the parties.

                   It is stated by Sh.I.P.Singh, Advocate, Counsel for the Opposite Party that the principal amount of Rs.12,00,000/- shall be returned to the complainants in five monthly equated installments of Rs.2,40,000/- each, alongwith interest @7% p.a. (simple) from the date of respective deposits made. The payment shall be made in the following manner :-

1st Installment	-	Rs.2,40,000/- + interest on the said amount of Rs.2,40,000/- from the respective date of deposit till 26.12.2018. Demand draft qua the aforesaid amount shall be handed over on 27.12.2018.
2nd Installment	-	Rs.2,40,000/- + interest on the said amount of Rs.2,40,000/- from the respective date of deposit till 26.01.2019 Demand draft qua the aforesaid amount shall be handed over on 27.01.2019.
3rd Installment	-	Rs.2,40,000/- + interest on the said amount of Rs.2,40,000/- from the respective date of deposit till 26.02.2019 Demand draft qua the aforesaid amount shall be handed over on 27.02.2019.
4th Installment	-	Rs.2,40,000/- + interest on the said amount of Rs.2,40,000/- from the respective date of deposit till 26.03.2019 Demand draft qua the aforesaid amount shall be handed over on 27.03.2019.
5th Installment	-	Rs.2,40,000/- + interest on the said amount of Rs.2,40,000/- from the respective date of deposit till 26.04.2019 Demand draft qua the aforesaid amount shall be handed over on 27.04.2019.

 

                   The abovesaid offer is acceptable to the Counsel for the complainants.

                   In view of above, this complaint stands disposed of having become infructuous.

                   However, we make it very clear that in case, any default is committed in making the payment, as referred to above, for each default, on the defaulted amount, the complainants shall continue to get interest at the rate referred to above till the time of making the payment. Further for each default, if default is more than two weeks, the complainants shall be entitled to penal amount of Rs.20,000/-. Further, it is made clear that this order shall be treated as an executable decree and if need be, it shall be open to the complainants, in case of not making the payment, as committed, to get it executed, as per law.

                   Certified copies of this order be sent to the parties, free of charge.