Housing Board Haryana - Interest - Will not allow for the manner of
calculation on the basis of compound interest and the amount will have to be reworked with interest and penalty as assessed already - The component of penalty is an amount ascertained by the
Arbitrator, which fell due at the time when it was made the decree of Court and interest will also become payable on the said sum but at the rate of 9%. (174) P.L.R.
Housing Board Haryana - Penalty - Although there are no
stipulations regarding payment of penalty in the terms and conditions of the auction, at the time when a letter of allotment was issued under Ex.P1, there was a reference also to a penalty
not exceeding 25% of the amount that was due - This amount has been quantified by the Arbitrator - The amount demanded by the Estate Officer has been in some way accepted by the Arbitrator
and he has imposed a penalty of Rs.70,000/- - No interference. (174) P.L.R.