TMI Blog2007 (2) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... till the date of refund on this amount, and the entire amount mentioned above must be paid to the appellant within two months from the date of this judgment. There is misconception about interest. Interest is not a penalty or punishment at all, but it is the normal accretion on capital. - CIVIL APPEAL NO. 1598 OF 2005 - - - Dated:- 15-2-2007 - S.B. SINHA AND MARKANDEY KATJU, JJ. Parag Tripathi, Ms. Deepti Rajpal and Dr. Kailash Chand for the Appellant. Mohan K. Parasaran, Ashok K. Srivastava, P. Parmeshwaran, Ms. Reena Singh and Ms. Neelam Singh for the Respondent. JUDGMENT Markandey Katju, J. - This appeal has been filed against the order passed by the Monopolies and Restrictive Trade Practice Commission, N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act, the respondent filed its reply. The defence of the respondent was that as the full payment of Rs. 6,64,000 (estimated cost) as indicated in the reservation letter was not paid, the possession of the flat was not handed over to him. The refund as requested, on the other hand was issued to him promptly. There was no deficiency of service as alleged in the application and as such the Compensation Application should be dismissed. 5. It is not disputed that the instalments as mentioned in both the reservation letters, were paid on the specified dates as indicated therein. It is also not disputed that though the estimated cost was indicated at Rs. 6,64,000, the same was not worked out till the year 1998 when the first camp was held ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch interest should be granted and it all depends on the facts and circumstances of the each case. We are of the opinion that the grant to interest of 12 per cent per annum is appropriate in the facts of this particular case. However, we are also of the opinion that since interest was not granted to the appellant along with the principal amount the respondent should then in addition to the interest at the rate of 12 per cent per annum also pay to appellant interest at the same rate on the aforesaid interest from the date of payment of instalments by the appellant to the respondent till the date of refund on this amount, and the entire amount mentioned above must be paid to the appellant within two months from the date of this judgment. 9. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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