Heard the learned counsel for the parties. Considering the limited nature of the controversy, the matter was taken up for final disposal with the consent of the learned counsels for the parties. The factual position is almost undisputed. The applicant applied for a house under the Higher Purchase Payment Plan in the Vaishali Apartments Scheme — 547. It is the stand of the respondent that due to certain unavoidable difficulties, the project could not be taken to its logical end. The grievance of the applicant is that since he had deposited the money with the respondent, he is entitled to refund of the amount with appropriate rate of interest. We had occasion to deal with similar matters earlier. Considering the views expressed in the earlier cases, we dispose of this compensation application with the following directions:
(1) The money deposited by the applicant with the respondent authority shall be refunded within a period of three months from today along with interest @ 7.5% per annum from the date of payment till the refund.
(2) The applicant shall produce proof of payments before the concerned official within a period of three weeks from today. Thereafter, the entitlement of the applicant shall be worked out and the payment shall be made as directed earlier.
While in some of the cases, we have granted interest at a higher rate, considering the period during which the amounts were deposited, we have fixed the interest @ 7.5% per annum.
The compensation application is accordingly disposed of.
[Dr. Arijit Pasayat]
Chairman
[Rahul Sarin]
Member
[Pravin Tripathi]
Member