Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2017 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 1835 - HC - Companies LawRejection of rate of interest - one time settlement - HELD THAT:- The petitioner Company was allotted a commercial plot in the year 2008 being the highest bidder therefor. Initially, an allotment order was issued in favour of the petitioner Company on 11.4.2008, but later on, there was some variation in the land size and consequently, another allotment order dated 2.12.2009 was issued. Thereunder, the petitioner Company was liable to pay 50% of the amount in four interest free installments and the remaining 50% in 72 monthly installments alongwith interest at the rate of 18% per annum and in case of default in payment of the installments, additional interest at the rate of 24% as penal interest. This Court dismissed the writ petition by order dated 21.6.2016 not only on the ground that the petitioners have failed to comply with the order dated 29.1.2013 passed in the first writ petition, but also because the Court found that the Advocate of the petitioners made an incorrect statement before the Court and tried to mislead it. This Court, while granting liberty to the petitioners to raise grievance, if any, in regard to the rate of interest by filing suit or by approaching such forum as may be available to them, did not mean that the petitioners would re-agitate the matter before this Court, once again, under the garb of certain communication received from U.P. Awas Evam Vikas Parishad intimating the petitioners that the amount determined under the OTS scheme is wholly justified and it is not possible to accept its objection regarding rate of interest. Petition dismissed.
|