RAJWATI Vs. DELHI TRANSPORT CORPORATION

JUDGEMENT

(1.) THE dispute between the parties is with regard to the rate at which the interest should be paid by the Petitioners on the amount of excess compensation refunded by it.

(2.) IT is an admitted case of the parties that by an award dated 16.07.1998, a compensation of Rs. 5,47,000/- with interest @ 12% was granted from the date of the filing of the petition till the date of payment. The Respondent Delhi Transport Corporation preferred an Appeal before this Court being FAO No.397/1998 on the quantum of compensation. The compensation came to be reduced to Rs. 4,14,000/-. The excess amount of Rs. 1,33,000/- along with interest was liable to be refunded to the Respondent DTC. IT is not in dispute that the interest @ 12% was paid on the award amount for the period 03.08.1994 to 16.07.1998 i.e. for almost four years. The said amount of interest has to be refunded at the said rate i.e. @ 12% per annum on the principle of restitution.

(3.) THE Petitioner is directed to pay the amount of interest by 10.04.2012 as prayed by the Counsel for the Petitioner, failing which the Petitioner would be liable to pay an interest @ 12% per annum throughout.