- (1.) Defendants Haryana Urban Development Authority (HUDA) and its Estate Officer have filed this second appeal.
(2.) Facts of this case are not very much in dispute. Disputed commercial site of SCO No. 7, Sector 10, Panchkula was auctioned by defendants on terms and conditions Ex. P1. Plaintiffs being highest bidders were purchasers of the site for ' 1,21,35,000/-. They deposited 10% of the auction money. Allotment letter Ex. P17/Ex. D1 dated 9.11.1998 was issued in their favour. Plaintiffs also deposited 15% of the auction money within stipulated period. Balance amount was to be deposited either within 60 days without interest or with interest @ 15% per annum in 10 half yearly equal installments. However, according to the allotment letter, the balance amount was to be deposited in 8 installments instead of 10 installments.
(3.) According to terms and conditions of auction, for late payment of installments, interest was to be charged @ 18% per annum whereas according to allotment letter, compound interest @ 18% was to be charged on the late payment of the installments.;