Civil Writ Petition No. 23051 of 2010 1 In the High Court of Punjab and Haryana, at Chandigarh. Civil Writ Petition No. 23051 of 2010 Date of Decision: 22.12.2010 The Ludhiana International Co-operative House Building Society Limited …Petitioner Versus Registrar, Co-operative Societies, Punjab, Chandigarh and Others …Respondents CORAM: HON’BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA. Present: Mr. Balwinder Singh Sehra, Advocate for the petitioner. Kanwaljit Singh Ahluwalia, J. (Oral) The present writ petition has been filed by the Ludhiana International Co-operative House Building Society Limited, J-78, Sarabha Nagar, Ludhiana (hereinafter referred to as “the Society”), assailing the order dated 9.9.2010 (Annexure P4), passed by the Revisional Authority-respondent No.2, whereby the petitioner/Society was directed to charge 15% per annum interest instead of 18% per annum on the amount of ` 74,842. This Court is prima facie of the view that prayer of the petitioner cannot be entertained as observations made by Hon'ble the Apex Court in Central Bank of India v. Ravindra 2002(1) ISJ (Banking) 1 (Supreme Court), which was relied upon by the Single Judge of this Court in Laxmi Narain & Others v. State Bank of India 2010 (2) BC 158, go against the petitioner. It was held therein that after the date of decree, interest at such a higher rate could not be imposed. Civil Writ Petition No. 23051 of 2010 2 In the present case, award is to be construed as a decree. Respondent No.4-Piara Singh had availed loan of ` 70,000 from the HOUSEFED through the Society. The Revisional Authority held as under:- “...After perusing the record available on the file and hearing the arguments of counsel for both the parties, it has come out that the loanee has availed loan of ` 70,000. The claim of appellant in respect of ` 74,842 is absolutely incorrect. The Arbitrator has ordered to pay interest upto 30.03.2002 and from this it is clear that the Society cannot recover interest beyond that date. Therefore, while dismissing the revision petition, it is ordered that the order dated 30.03.2007 passed by the Assistant Registrar, Co-operative Societies, Ludhiana (East) will remain as it is and it is also ordered that until the respondent No.2 deposits the whole recoverable amount interest @ 15% p.a. will be charged...” No fault can be found with the well reasoned order of the Appellate Authority affirmed by the Revisional Authority, who have validly exercised their discretion. Hence, no ground is made out to cause interference in the present writ petition and the same is hereby dismissed, in limine. (Kanwaljit Singh Ahluwalia) Judge December 22, 2010 “DK”