14. I find some force in the argument of the learned counsel for the petitioner that the State Commission has not awarded any interest on the amount of refund on the ground that there was no concluded contract in the matter. The fact of the matter is that amount remained deposited with the opposite parties for quite sometime and therefore, the complainant is entitled to some interest on the deposited amount as held by Hon’ble Supreme Court in Alok Shanker Pandey Vs. Union of India &Ors., II (2007) CPJ 3 (SC) as follows:-
“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.”
| NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION |
| NEW DELHI |
| |
|
| REVISION PETITION NO. 3290 OF 2013 |
| |
| (Against the Order dated 23/07/2013 in Appeal No. 971/2010 of the State Commission Maharashtra) |
| 1. YOGESH NANDLAL HEDA |
| R/O 1466, 'C' WARD, LAXMIPURI, TALUKA-KARVEER, |
| DISTRICT : KOLHAPUR |
| MAHARASTRA |
| ...........Petitioner(s) |
| Versus | |
| 1. M/S. SUBAL CONSTRUCTION & 3 ORS. |
| ADD: 2104/13, 'E' WARD. RUKMINI NAGAR, |
| KOLHAPUR |
| MAHARASTRA |
| 2. SHRI SUNIL BALRAM MAHAJAN, |
| ADD: 2104/13, 'E' WARD. RUKMINI NAGAR, |
| KOLHAPUR |
| MAHARASTRA |
| 3. SHRI SATISH VIJAYKANT MOOG, |
| R/O BAJAR GATE, BEHIND KOHLAPUR, MUNICIPAL CORPORATION |
| KOHLAPUR, |
| MAHARASTRA |
| 4. SHRI CHETAN SUNDARLAL KAJARIA, |
| R/O PLOT NO-5, ANKIT APARTMENTS, NAGLA APARTMENTS, NAGLA PARK, |
| KOHLAPUR |
| MAHARASTRA |
| ...........Respondent(s) |
| BEFORE: | |
| | HON'BLE MR. PREM NARAIN,PRESIDING MEMBER |
Dated : 23 Oct 2019
