what is the effect after paying desputed amnt. in court a/c after interim orders?
vinda a. kawatkar
(Querist) 09 October 2010
This query is : Resolved
the coop court in its INTERIM ORDER asked the opponent [member] to deposit the disputed amnt. in the court.My Q. is whether the INTEREST on the amnt. gets FREEZED or continued till the FINAL DECISION.[the deponent scty. continue to charge the intrest on the amnt. paid in court despite giving them the RECEIPT of payment]How to get corrected during FINAL HERING
s.subramanian
(Expert) 09 October 2010
Once the amount is deposited as per the directions of the court,the matter ends there. No further interest could be charged by the Society on that amount. It will be illegal to do so. You can file a petition before the court to bring this to its notice and seek appropriate relief.
B K Raghavendra Rao
(Expert) 09 October 2010
Your question is void of merits and not realistic. No co-operative court before whom a dispute is filed would require the respondent to deposit the disputed amount. First the liability of the borrower - member needs to be established only then the question of deposit comes into picture. The court would then pass an award for recovery of the determined amount. However, only in appellate courts, the member if he prefers an appeal challenging the lower court order need to deposit a part of the award amount.
Interest on loan amount borrowed continues to accrue till the date of its repayment. However, presuming that the disputed amount is called upon to be deposited, then member need not pay any further interest on it.
ashish lal
(Expert) 15 October 2010
i agree with Mr.Rao
