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Supreme Court of India · body

2005 DIGILAW 558 (SC)

HUDA v. KAPOOR YADAV

2005-03-11

H.K.SEMA, S.N.VARIAVA

body2005
Order 1. Delay condoned. 2. Leave granted. 3. Heard parties. 4. Reliance has been placed upon an affidavit filed by the respondent in execution proceedings taken by him wherein he has agreed to receive interest at 10%. The respondent states that he was pressurised to make such a statement and withdraw the execution proceedings as otherwise possession was not being given to him. In our view, bodies, like the appellants, should point out to private parties with whom they deal what their rights are as per the judgment of this Court. As per the judgment of this Court, the party is entitled to 12% interest. The appellants instead of pointing out the correct position to the party take advantage by getting parties to agree to accept a lower rate of interest. 5. We, therefore, direct that the payment shall be at the rate of 12% per annum after two years from the date of deposit. Such payment to be made within four weeks from today. If the payment is not made within four weeks then the appellants will pay interest at the rate of 18% from the date of each deposit till payment. 6. The appeal stands disposed of accordingly. No order as to costs.