( 1 ) THIS petition has been preferred by the petitioner as against the order passed by the Appellate Authority, namely, the Financial Commissioner dated 20. 8. 1998 dismissing the appeal filed by the petitioner as against the order of the Joint Registrar, Cooperative Societies dated 21. 5. 1998 directing the petitioner to pay interest @ 18% on the 10th and 11th instalments for the period of default.

( 2 ) THE petitioner is a member of the Delhi Government Officers Cooperative Group Housing Society Limited. The petitioner was also an office bearer of the Managing Committee of the Society and for some time he was also the President of the Society.

( 3 ) THE Society is a Group Housing Society which constructed three types of flats, namely Type B, Type at and Type A. The initial cost as approved by the General Body was for Type A Rs. 2,61,200. 00, Type at Rs. 3,56,000. 00 and Type B Rs. 4,42,000. 00. The aforesaid cost was divided into nine instalments and the General Body Meeting held on 17. 12. 1989 resolved that penal interest at the rate of 18% would be charged from the defaulters in respect of the said nine instalments.

( 4 ) MY attention is drawn to the Minutes of