pI IN THE HIGH COURT OF KARNATAKA AT BANGALORE. Dated this the 4th day of June 1998. Before THE HON’BLE MR. JUSTICE KUMAR RAJARATNAM WRIT PETITION No. 30839 OF 1996 Between: 1. Smt.B.R.Sbivalingamma W/o Sri G.Sbivappa, 42 years, R/at N.M,C. II Cross Left side, Halen agar , Bhadrava thi. 2. G.Shivappa 5/0 Mabadevappa ,50 years, R/at N.M.C.II Cross Leftside Halenagar Bhadravathi, Shimoga Dist. PetitioneBs (By Sri B.Rudragowda, Advocate) And: 1. The Karnataka Appellate Tribunal by its Registrar W.S.Buildings, Bangalo.re.1 2. The House building CC—operative Society Ltd.,Halenagara Bbad.ra— vatbi, Shimoga District by its Secretary. 3 The As at, Registrar of Co— operative Societies, Shimoga Sub-division, Shimoga. .. Respondents. (By Sri Vishwanath Poojari K. Advocate for R—2) (By Sri Veerappa B. H.C.G.P for R—1 and 3) , / 4. f) This writ peti t. a is filed under Articles. 226 & 227 of the Constitution of India praying to quash Aanezure ‘B’ dated 21-8-1995 and Annenre ‘0’ dated 4—11-1996 and direct the respondents to givö9 deductions of the amounts paid by the petitioners and to calculate the rate of interest at 9.5$ instead of 12.5$ This writ petition is coming on for Prig. hearing in B’ Group today, the Court made the fellowing: I. This Writ Petition is taken up with the consent of parties. 2. the petitioners challenge the order passed by the Tribunal in Appeal Noe2lO/94. The first respondent-Tribunal direc ted the petiti oners to pay a am of b.16,917/—aWl4’A’ tt4 La “a’ — 3. Pros a perusal of the records it is appa rent that the petitionens have paid a sum of h.1 ,500/” on 305—1996 and b.500/— on 6—12-1990 and by an interim order passed by this Court a • sum of b.50OO/- was paid on 26-12-1996. In all a sum of b.7000/- has been paid. The total amount bo±rowed was . .3 / —3— 4. The Bank is at liberty to proceed against he petitioners after giving credit to the amounts paid by the etitioers. In the peculiar facts and circumstances of the case and taking into account the plight of the petitioners and also taking into account the ready realisatim by the bank, the sca1e of interest shall be scaled down from 12.5% to 9.5% on the principal sum of Rs.8,000/-. Accordingly the award is modified to the ex t ent that the petitinners are liable to pay the principal amount of Rs,8000/— along with interest at 9.5% on the principal from the date of loan till the date realisation, While calculating the amount a sum of .5OOO/— paid by the petitioners on an interim order passed by this Court on 19—12—1996, be given credit to. 6. The award is modified accordingly. The petitioners have undertaken to pay the balance amo;ng within three wonths from the date of receipt of this orderLX 7. This writ petition is disposed of acrordingly. There will be no order as to costs. ) 1, —