(1.) THE essential facts which have emerged are that due to some accounting error in the year 1993-1994, opening balance in the GPF Account of the petitioner was inflated by Rs. 60,000/- and because of this discrepancy, payment of a portion of his GPF was delayed. The respondents have now recovered the same not only along with normal interest but also with penal interest @ 4%.
(2.) IN the circumstances, in my opinion, the imposition of penal interest of 4% would be unjust. Consequently, the action of the respondents in recovering the penal interest @ 4% is set aside. The amount now found due be released to the petitioner within two months from the receipt of a certified copy of this order. Petition stands disposed of.