1 1. FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD WRIT PETITION NO.688/2010. (Murlidhar s/o Shankar Rajankar Vs. The Raver Merchant Co.op.Society Ltd., Raver, Tq. Raver, District Jalgaon.) ----------------------------------------------------------------------------------------------------------- Office notes, office Memoranda of Coram,appearances, Court’s orders Court’s or Judge’s orders. or directions and Registrar’s orders ----------------------------------------------------------------------------------------------------------- Mr.VB Patil, Adv. for petitioner; Mr.RS Pawar, Adv. for Respondent. *** CORAM : K.U.CHANDIWAL ,J. DATE : 21 st October, 2010. ... 1) Heard both the counsel extensively. 2) The grievance of Mr.Pawar for the writ petitioner is, the respondent/society has erroneously applied penal interest to the loan account, at 3% and also the compound interest. To emphasis this point, Mr.Patil has read the observations of the learned Judge, Cooperative court (at page 46, para 17 and 18 in particular). Reading the above paragraphs, it is more than clear that the learned Judge was satisfied that the penal interest could not have been applied by the respondent/society, since such entitlement is not proved. 3) Though Mr.Pawar, appearing for respondent/society, informs that the 2 respondent society is eligible to receive such penal interest, however, Mr.Pawar could not convince that such document has been established or proved before the competent cooperative court. 4) Taking these aspects into consideration, the observations of the learned Judge of the Cooperative Court being indicating of non-entitlement to apply 3% of penal interest, the respondent-society will not claim additional interest as penal, which is 3% and the calculation is accordingly carried by Mr.Pawar. 5) As per the calculation, according to Shri Pawar, excluding 3%, the liability of the petitioner, till date, i.e. 21/10/2010, comes to Rs.3,88,181/- (Rupees three lacs eighty thousand one hundred and eighty one). 6) The petitioner shall deposit Rs. 3,88,181/-(Rupees three lacs eighty thousand one hundred and eighty one) with future interest @ 16%. The amount to be paid up to 30th January, 2011. 7) Writ Petition is allowed partly to the extent indicated above. (K.U.CHANDIWAL) JUDGE bdv/