BATRA FINANCE PRIVATE LIMITED Vs. CHANDIGARH ADMINISTRATION

JUDGEMENT

(1.) Leave granted.

(2.) Heard learned counsel for the parties.

(3.) Considering the facts of the case and considering the facts that both the Appellate Authority and the revisional authority did not order for forfeiture but granted time to make payment, we do not think that it was a fit case where the direction for forfeiture should have been passed by the High court with liberty to file application for reallotment. Considering the fact that the interest on unpaid amount has been calculated on the basis of graduated interest from 12% to 24% and penalty on the first instalment has also been calculated at Rs 31,400 and penalty for the second instalment has been calculated at Rs 83,912 and also considering the fact that the appellant has already deposited a sum of Rs 24,90,000 in the Registry of this Court, we feel that the appellant does not deserve an order of forfeiture. The respondents are entitled to withdraw the said sum of Rs 24,90,000 with interest accrued thereon and give a detailed amount to the appellant within a month from today about the exact amount which was outstanding on the date of depositing the said sum of Rs 24,90,000. If any amount is still due from the appellant on the basis of accounts to be furnished by the respondent, the appellant is directed to pay the same within one month from the date of communication of such calculation with interest at 24% per annum. In default of such payment, this appeal shall stand dismissed. In the event no amount is due from the appellant but it transpires that the appellant has made overpayment on the basis of the calculation to be made by the respondents, such overpayment is directed to be returned by the respondents within a month from the date of such calculation. In the facts of the case, we allow this appeal in the aforesaid terms after setting aside the impugned order of the High Court by directing the appellant to pay a sum of Rs 1,50,000 as costs of this appeal. The Registrar of the Supreme Court is directed to pay to respondent 1 after encashing the FDR, in the name of the Chandigarh administration within a period of four weeks from today.