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RAJENDRA PRAKASH SONI, VIJAY BISHNOI
Ridhi Sidhi Builders & Party – Appellant
Versus
The Urban Improvement Trust, Udaipur through its Secretary – Respondent
ORDER :
1. This intra court appeal is filed by the appellant being aggrieved with the order dated 27.09.2007 passed by the learned Single Judge in S.B. Civil Writ Petition No.452/1996, whereby the learned Single Judge, while allowing the writ petition filed by the petitioner, has directed the respondents to accept the remaining amount of Rs.11,86,550/- from the petitioner for executing lease deed in his favour with a further direction to the petitioner to pay interest over the balance amount of Rs.11,86,550/- @ 15% per annum to the respondent – Urban Improvement Trust (for short ‘the UIT’) from 30.01.1996.
2. Learned Single Judge has further observed that the interest shall be appropriated under Sub-Rule 5 of Rule 17 of the Urban Improvement (Disposal of Urban Land) Rules, 1974.
3. Brief facts of the case are that the appellant has participated in the auction proceedings conducted by the respondent – UIT for sale of commercial plot situated at Sector 5, Hiran Magri, Udaipur. The appellant deposited earnest money of Rs.5,000/- in cash and his bid of Rs.311 per sq. ft. being the highest bid was accepted by the respondent – UIT. The total cost of the plot was Rs.15,86,100/- and the appel
The appellant cannot be penalized for the action/inaction of the UIT, and the court held that the direction to pay interest for the balance amount was not tenable as it was based on a rule applicable....
The court upheld the provisions of the Jaipur Development Authority Act, 1982, and the applicable interest rates under the Raj. Improvement Trust (Disposal of Urban Land) Rules, 1974, in determining ....
The cancellation of allotment was justified due to the petitioner's failure to comply with payment terms, emphasizing the importance of adhering to auction conditions and public interest.
The plaintiff is entitled to interest on the auction bid amount due to the defendants' delay in executing the sale deed and delivering possession.
Interest is payable only on the principal sum and not on the interest part of the award, unless specifically provided by statute or contract.
Absent a specific contractual agreement for interest, courts exercise discretion under the civil procedure code to award equitable interest; such an order cannot be reopened in a review petition unle....
Court upheld contractual interest of 18% from pre-suit period while awarding 9% future interest post-decree, reflecting equitable considerations of a commercial transaction.
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