THE HON’BLE SRI JUSTICE R.KANTHA RAO W.P.NO.14649 OF 2001 ORDER: Heard Sri Kowturu Vinaya Kumar, learned counsel appearing for the petitioner and Sri Srinivas Polavarapu, learned counsel appearing for the respondents. The brief facts leading to filing of the writ petition are that the petitioner while working as Secretary of Primary Agricultural Co-Operative Society, Kamanchikal, alleged to have committed financial irregularities and thereafter, arbitration proceedings were initiated against him before the first respondent seeking recovery of an amount of Rs.18,667/- with interest at 21% p.a. After considering the material available on record, the 1st respondent-Arbitrator passed an Award on 30-11-1998 for the aforementioned amount together with interest at 21% p.a. under Section 62 (4) of the Andhra Pradesh Cooperative Societies Act VII of 1964 (for short ‘the Act’). Aggrieved by the said Award, the petitioner filed an appeal before the Co-operative Tribunal, Hyderabad in CTA No.166 of 1999 under Section 76 (1) of the Act. The appellate Tribunal also confirmed the Award passed by the Arbitrator. Challenging the said judgment passed by the Tribunal, the petitioner filed the present writ petition seeking issuance of Writ of Certiorari to quash the order dated 11- 6-2001 passed in CTA No.166 of 1999 by the Co-operative Tribunal, Hyderabad. In the proceedings before the Arbitrator as well as before the Co- operative Tribunal, consistent stand taken by the petitioner is that due to the financial crises in the society, salaries could not be paid to him since September, 1997 and thereafter, as per the usual practice, he had drawn the salary amount from the collections as per the instructions of the President of the society. However, both the Arbitrator and the Co- operative Tribunal refused to accept the explanation offered by the writ petitioner. Ultimately, the writ petition has been filed seeking to quash the order passed in CTA No.166 of 1999. While admitting the writ petition on 19.7.2001, this Court granted interim stay directing the petitioner to deposit an amount of Rs.5,000/- and accordingly the same was deposited. Learned counsel for the petitioner would submit that this is a case wherein the petitioner might have committed an irregularity, but did not resort to commit any act of misappropriation. The interest directed to be paid is at the rate of 21% p.a which would result in huge loss and hardship to the petitioner and therefore, the interest may be waived. The submission made by the learned counsel for the petitioner having regard to the facts and circumstances of the case, appears to be reasonable and as such, this Court is inclined to reduce the interest. The petitioner is directed to pay the balance amount together with interest at 6% p.a from the date of award till payment within a period of three months from the date of receipt of a copy of this order. Writ petition is, accordingly, disposed of. No costs. _________________ R.KANTHA RAO,J rkk Dated: 25-11-2010