This appeal has been filed against the judgment dated 16.01.2015 of the Punjab State Consumer Disputes Redressal Commission, Chandigarh in CC no. 159 of 2013, wherein the State Commission has non-suited the appellants on the ground that they are not consumer and they are only investors. 2. The brief facts of the case are that the appellants applied for a plot and the appellants paid a sum of Rs.7,50,000/- to the opposite party. The opposite party got the permission for the project in the year 2012 and demanded the remaining amount from the appellant. However, the total amount was not paid by the appellant therefore, the opposite party cancelled the booking and refunded the total amount of Rs.7,50,000/- along with 18% interest per annum totalling to Rs.16,44,439/-. However, the appellants refused this amount and returned the cheques to the opposite party. Aggrieved, the appellants filed a consumer complaint before the State Commission alleging deficiency on the part of the opposite party. The State Commission, vide its order dated 16.01.2015 dismissed the complaint on the ground that the complainants were not the consumers as no allotment was made in favour of the complainants. The complainants had paid only the booking amount and no allotment was offered to them, so they were only prospective investors. 3. Heard the learned counsel for the parties. It is the case of the appellants that they are consumers as they have paid the booking amount. If the allotment has not been made by the opposite party the complainants cannot be held responsible for the same and they cannot be allowed to suffer for the deficiency on the part of the opposite party. 4. Learned counsel for the appellant has argued that the total amount has not been refunded along with interest to the complainant even after cancellation. It was requested by the learned counsel for the appellants that the amount may be refunded with interest @ 18% from the date of deposit till actual payment. 5. The learned counsel for the respondent states that the fact is that the amount was refunded on 14.02.2013 but the same was not accepted by the appellants. The opposite party/ respondent is still ready to refund the amount. However, the counsel for the respondent states that the amount of Rs.7.50 lakhs was refunded along with 18% interest per annum and the amount was not accepted by the appellants and in such situation the opposite party/ respondent cannot be asked to pay any further interest on the amount of refund. 6. I have carefully considered the arguments of both the learned counsel for the parties and examined the record. Since the opposite party has already refunded the amount of Rs.7,50,000/- along with 18% interest per annum till 14.02.2013 totalling to Rs.16,44,439/- but the same was not accepted by the appellants, the appellants are not entitled to interest @ 18% per annum beyond 14.02.2013. However, as the amount is still lying with the opposite party, the complainants will be entitled to some interest as held by the Hon’ble Supreme Court in the case of Alok Shanker Pandey Vs. Union of India & Ors., II (2007) CPJ 3 (SC) as under: “9. It may be mentioned that there is misconception about interest. Interest is not a penalty or punishment at all, but it is the normal accretion on capital. For example if A had to pay B a certain amount, say 10 years ago, but he offers that amount to him today, then he has pocketed the interest on the principal amount. Had A paid that amount to B 10 years ago, B would have invested that amount somewhere and earned interest thereon, but instead of that A has kept that amount with himself and earned interest on it for this period. Hence equity demands that A should not only pay back the principal amount but also the interest thereon to B.” 7. On the basis of the above discussion, it is directed that the amount of Rs.16,44,439/- which the OP was to pay on 14.02.2013 shall be paid to the appellant by the respondent/ opposite party within a period of 30 days from today along with interest @ 6% per annum on this amount of Rs.16,44,439 from 14.02.2013 till the date of payment. 8. With these directions, the appeal no. 273 of 2015 stands disposed of. | 
