JUDGMENT : N. Paul Vasanthakumar; CJ.:- 1. CIMA No. 228/2013 has been preferred by the New India Assurance Company, challenging the order/award of the J&K State Consumer Disputes Redressal Commission, Srinagar dated 18.07.2013 made in complaint No. 36/2011 preferred by the respondent herein insofar as enhancement of additional compensation to the tune of Rs. 1,79,000/- with 4% interest per annum along with cost of Rs. 6000/-, bringing the total compensation to Rs. 2 lacs. The respondent has also filed the cross appeal No. 79/2014 in the CIMA, seeking enhancement of the compensation awarded by the Consumer Disputes Redressal Commission as prayed in the complaint i.e. a sum of Rs. 14,81,739/- alongwith interest of 24% from the date of compliant and a sum of Rs. 9,50,000/- for the loss of time for the delay in settling the claim, mental agony, litigation charges and travel expenses etc. 2. The case of the respondent-complainant before the Consumer Commission was that he insured his house and house hold property to a tune of Rs. 17 lacs i.e. 14 lacs for the house and 3 lacs for house hold properties from 01.11.2008 to 31.10.2009. His house was completed damaged in a fire incident on 06.07.2009 and the house hold property was also extensively damaged. He lodged a complaint to the appellant-Company pursuant to which Surveyor was sent and the Surveyor assessed the damages to the building at Rs. 8,83,775/- and loss to the household goods at Rs. 67,680/- bringing the total loss to Rs. 9,51,455/- . The Insurance Company thereafter made deductions of Rs. 2,25,362/- on account of depreciation at the rate of 25% on the building and Rs. 33,840/- as 50% depreciation on the house hold goods and awarded a sum of Rs. 6,87,253/-. Having aggrieved over the same complaint was filed by the respondent, as stated supra, claiming compensation of a sum of Rs. 14,81,739/-along with 24% interest. 3. The Consumer Commission, after examining the witnesses, found that depreciation of 50% to the house hold goods was not proper as the same was made without any explanation or elucidation. Insofar as the building is concerned, there was no logic for assessing the depreciation at 25% and the Branch Manager has not uttered even a single word to justify the deductions. Giving such a finding the Consumer Commission added a further amount of Rs. Insofar as the building is concerned, there was no logic for assessing the depreciation at 25% and the Branch Manager has not uttered even a single word to justify the deductions. Giving such a finding the Consumer Commission added a further amount of Rs. 1,79,000/- over and above what was already received by the complainant and also assessed 4% interest per annum along with Rs. 6000/- as litigation charges and arrived at a total amount of Rs. 2 lacs. We are unable to find any reason to tale a different view except the award of 4% interest per annum. 4. The learned counsel appearing for the respondent, who has also filed the cross appeal, argued that the award of interest at the rate of 4% is without any basis and he has also relied on a judgment of a Division Bench of this Court reported in 2000 CCJ 786 (Divisional Manager, United India Insurance Co. v. Nazir Ahmad Shah) and contended that 12% interest will be reasonable rate of interest payable and prayed for enhancing the rate of interest. 5. The respondent is justified in contending that award of 4% rate of interest is without any basis. Hence we are of the view that 4% interest awarded has to be enhanced to 6% and the amount of Rs. 1,79,000/- has to fetch 6% interest per annum. 6. Insofar as the claim made in the cross appeal is concerned, the Consumer Commission having given a factual finding, which is just and reasonable, we are not persuaded to award any further amount expect the interest component as stated supra. 7. Consequently CIMA No. 22/2013 is dismissed and Cross Appeal No. 79/2014 is partly allowed. Instead of 4% interest the additional award amount of Rs. 1,79,000/- shall be paid along with interest at the rate of 6% per annum, alongwith costs of Rs. 6000/- as ordered by the Consumer Commission. The appellant is directed to calculate the interest as now awarded and pay the same to the respondent after adjusting the amount already deposited with the Registry of this Court within a period of four weeks. The respondent is permitted to withdraw the amount deposited on 18.02.2014 with accrued interest. 8. No costs.