ORDER 1. This appeal with grant of leave has been filed by a company named M/s Oswal Agro Mills Ltd. which has purchased flats in the housing complex named Urmi Cooperative Housing Society Ltd. in Worli Sea Face, Mumbai. After purchase of the flats and becoming a member of the Housing Society, a dispute arose between the Society and the appellant regarding contribution towards repairs and maintenance fund and sinking fund due against it. 2. The authorities under the Maharashtra Cooperative Societies Act, 1960 decided the dispute against the appellant and upheld the demand of contribution towards the two aforesaid funds at the agreed rates on the basis a of the total value of flats shown in the sale deed as Rs 2,34,50,000 (Rs two crores, thirty-four lakhs and fifty thousand). The dispute on rate and quantum of contribution was decided by the authorities under the Maharashtra Cooperative Societies Act against the appellant. The writ petition filed in the High Court has been dismissed summarily. Learned counsel appearing for the appellant Company has taken us through the relevant bye-laws of the Society and the resolution that was passed by the Society in the matter of contribution towards repairs and maintenance fund and sinking fund. Learned counsel argues that in calculating the contributions on the value of the flats, the proportionate value of the land ought to have been excluded. He has tried to demonstrate from a chart annexed to the petition that adding up value of the other flats occupied in the housing complex, the contribution demanded from the appellant is comparatively too high. 3. We have also heard learned counsel appearing for the Society who supported the demand. Our attention has been drawn to a letter dated 1-4-1991 of the appellant Company, after purchase of flats, addressed to the Secretary of the Housing Society in which the only deduction sought was d value of the air conditioners, furniture and fixtures in the flats. The value stated by the appellant for the purpose of working out contribution towards repairs and maintenance funds and sinking funds is in the sum of Rs 2,34,50,000 (Rs two crores, thirty-four lakhs and fifty thousand). It is also explained to us that in the value of the flats, proportionate price of the land has not been added. The value stated by the appellant for the purpose of working out contribution towards repairs and maintenance funds and sinking funds is in the sum of Rs 2,34,50,000 (Rs two crores, thirty-four lakhs and fifty thousand). It is also explained to us that in the value of the flats, proportionate price of the land has not been added. In these circumstances, we find no ground to interfere with the action of the Society and the orders of the cooperative authorities. 4. As an interim arrangement, under order of this Court passed on 24-4-2000, the appellant agreed to pay a sum of Rs 10,92,709.25 on the basis of the book value of the flat. The aforesaid payment was inclusive of the interest which was charged at the rate of 21 %. We find that interest charged by the Society is too high. The rate of interest therefore deserves to be f reduced to 9%. 5. Let the Society now recalculate the total arrears towards the aforesaid two contributions from the appellant and present the demand for withdrawal of the amount before the Registrar of this Court. The total amount in deposit with this Court on withdrawal by the Society shall be duly adjusted towards the recalculated arrears against the appellant. 6. The appeal is disposed of accordingly. 7. We make no order as to costs.