Heard the learned counsel for the parties. 2. This appeal has been filed by the Appellants against the order dated 16.01.2019 passed by the Haryana State Consumer Disputes Redressal Commission, Panchkula (‘the State Commission’) in Complaint no. 347 of 2017, wherein the State Commission has passed the order for refund of Rs.17,75,000/- along with interest @18% per annum. 3. Learned Counsel for the appellants states that interest @18% per annum is very high and this Commission in the case of Amit Soni and Anr., Vs M/s Umang Realtech Private Limited and Anr., decided on 03.06.2019 in CC no. 2524 of 2017 has allowed refund of the amount along with interest @12% per annum. Learned counsel for the appellants states that the appellant is ready to refund the amount with interest @12% per annum from the date of respective deposits till the date of actual payment. He further states that in the execution proceedings, he has already deposited an amount of Rs.31,00,000/- with the State Commission, which has been paid to the complainant. 4. On the other hand, the learned counsel for the complainant states that the opposite party has not paid Rs.5,000/- which was ordered by this Commission vide order dated 15.04.2019. He further states that the appellant has not deposited 50% of the amount ordered by this Commission vide dated 02.07.2019. In this regard, the learned counsel for the appellant states that he has already deposited Rs.31,00,000/- with the State Commission in execution proceedings, therefore, he has not deposited any amount against this order. 5. We have carefully considered the arguments advanced by the learned Counsel for the parties and examined the record. These days, the Hon’ble Supreme Court and this Commission are not awarding interest @18% as the interest rates have drastically fallen down. When the appellant/opposite party is ready to refund the amount along with 12% per annum interest, which is also agreeable to the learned counsel for the complainant, we order accordingly. When the interest rate is being awarded on the amount of refund, there is no justification for separate compensation of Rs.1,00,000/- awarded by the State Commission. 6. Based on the above discussion, the appeal is partly allowed and the order of the State Commission is modified to the extent that the amount of Rs.17,75,000/- will be refunded by the appellant/opposite party along with interest @12% per annum from the date of respective deposits till the actual payment to the Complainant. The order of the State Commission in respect of compensation of Rs.1,00,000/- is set aside. Further the order of the State Commission in respect of the award of cost of litigation of Rs.21,000/- is maintained. The appellant will also pay cost of Rs.5,000/- to the complainant as ordered by this Commission on 15.04.2019. 7. The order be complied with, within a period of 45 days from today. |
