ORDER
J.K. Mehra, Member
1. We have heard the parties. In the present case, the main grievances are
the reduction of rate of interest by the State Commission from 21% to 18% and
also non-allowance of any initial development period during which interest should
not run. We had a occasion to consider the question relating to the rate of
interest and also the period during which the interest has to run in HUDA v. Darsh Kumar. In the present case also we, following our earlier decision, direct
that interest shall be payable @ 18% and it will run form two years after the date
of the deposit till the date of payment. Counsel for the petitioner state that there
should be exemption form the interest for the first two and half years. He has not
brought on record copy of the brochure to support his argument. In the absence
thereof, it will be appropriate to follow our decision in the case of HUDA v.
Darsh Kumar. With these observations, this Petition is disposed of.