Mr. Justice K.K. Srivastava, President—We have heard the learned Counsel for the appellant and have perused the impugned judgment and order dated 1.10.2004 passed by District Consumer Disputes Redressal Forum-I, U.T., Chandigarh (for short hereinafter to be referred as District Forum) in Complaint Case RBT No. 524/2003. The appeal has been filed for enhancement of the rate of interest awarded to the appellant/complainant on the full amount, which has been ordered to be refunded.

2. The learned Counsel for the appellant in the first place submitted that ICICI Bank had charged interest from the appellant @ 12.5% per annum on the due amount and the same rate of interest should have been awarded to the complainant on the amount deposited by him with the respondent - M/s. Chandigarh Builders and Promoters Limited (for short hereinafter to be referred as Builders). The learned Counsel for the appellant pointed out that in the instant case, the respondent builders failed to construct the flats, which were to be purchased and occupied by the appellant but the respondent builders failed to construct the same and as such the complainant approached the respondent builders for refund of th