THE HONOURABLE SRI JUSTICE LAXMI NARAYANA ALISHETTY

ORDER:

This Writ Petition is filed to declare the action of respondent No.2 in not paying the compound interest @ 24 % per annum from 14.09.2007 to 30.07.2015 on Rs.51,66,800/-

paid by the petitioner, as arbitrary, illegal and unjustified.

2. Heard Sri T. Bala Mohan Reddy, learned counsel for petitioner and Sri V. Narasimha Goud, learned Standing Counsel for HMDA.

3. Learned Counsel for the petitioner would submit that petitioner is native of Hubli, Karnataka and presently settled in USA and he is an NRI; that petitioner participated in the auction conducted by respondent No.2 on 14.09.2007, for sale of open plots and the petitioner became highest bidder in respect of plot No.666/A, Miyapur Residential Complex, Miyapur, and paid the entire sale consideration of Rs.51,66,800/- vide Challan Nos.10068/ 2007-08 dated 17.09.2007 for Rs.5,00,000/-, 10255/2007-08 dated 19.09.2007 for Rs.7,91,000/- and 45/2007-08 dated 01.10.2007 for Rs.38,75,100/- towards plot cost as per the terms of auction, by obtaining loan from ICICI Bank for an amount of Rs.48,00,000/- and was paying monthly EMI of Rs.63,000/-; that petitioner is under the impression