Therefore, directions to deposit the companys of plot at 16.62 per annum as escalation companyt is unjust in law.
On March 27, 1991 draw of plots was made for allotment of 5000 plots in Sectors 23 and 24 of Rohini Scheme in Delhi.
In the meanwhile, the Government of India have re determined the companyt of the land for allotment of the acquired land for the year 1992 94 effective from April 1, 1993 to March 31, 1994 at Rs.2675.29 per square yard.
The DDA evolved the principle of calculating the companyt of development charges at par with companyt of living index rate which admittedly worked out to 16.62 per annum.
Before the letters of allotment was companymunicated to the rest of the successful applicant, the owners of the lands acquired under the numberification issued under Section 4 1 , had approached the High Court and had stay of further proceedings.
Subsequently, the stay was vacated on August 4, 1992 and it is stated in the companynteraffidavit that the owners had approached this Court by way of appeal and in September 1992 this Court had dismissed the special leave petitions.
Between 6th April, 1991 and March 27, 1991, around 3000 orders of allotment came to be issued.
The High Court was number justified in giving the direction to charge the escalation only at the rate of 7 per annum.
The question of law that arises for companysideration in these appeals is whether the High Court was right in directing calculation of interest 7 of the escalation charges on the principle of equity?
The impugned judgment made on August 11, 1995 in C.W.P. No.
It is settled law that the rate of plot is as is prevaling on the date of companymunication of the allotment letter.
/2589/96 SLP C Nos.253 55/96/575 78/96,300/96,/933/96 928/96, 929/96, 930/96 931/96, 932/96, /934/96, 935/96, 936/96, 938/96,937/96, 945/96 946/96, xxx O R D E R Delay companydoned.
On the basis thereof, they recalculated the companyt of allotment and issued letters of allotment to the respondents.
On that basis it had worked out the companyt of plot at the rate of Rs.1579.17 per square yard.
When the claimants have been directed to bear interest only at the rate of per annum on the amount deposited by them towards advance payment deposited adjustable of the successful bidders and refund is made to the unsuccessful applicants with the same rate of interest, the DDA should equally charge the escalation charges at the rate of 7 per annum.
13054 75 OF 1996.
We have heard learned companynsel of both sides.
The respondents came to challenge this order in the High Court.
Consequently, the issuance of the letters of allotment was stopped.
WITH CIVIL APPEAL NOS.
Only 2000 persons are yet to be issued of the allotment letters.
Leave granted.
The facts of the case are number in dispute.
196/94 was declared invalid.
