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1 - 10 of 14 (0.27 seconds)Real Estate (Regulation And Development) Act, 2016
M/S Imperia Structures Ltd. vs Anil Patni And Anr. Etc. on 2 November, 2020
14. Respectfully following the ratio of the Judgment passed by the Hon'ble Supreme Court in the case of M/s. Imperia Structures Ltd. (supra), we partly allow all the Consumer Complaints and direct the Opposite Party Developer to refund the entire amounts deposited by the Complainants in the aforesaid Complaints alongwith simple interest @9% p.a. from the respective dates of deposits till the date of actual payment together with costs of ₹50,000/- to be paid to the each of the Complainants, within a period of six weeks from the date of passing of this order failing amount the amount shall attract interest @ 12% p.a. for the same period.
Consumer Protection Act, 2019
Emaar Mgf Land Limited & Anr. vs Amit Puri on 30 March, 2015
13. This Commission in Emmar MGF Land Ltd. & Ors. Vs. Amit Puri : II (2015) CPJ 568 (NC) has laid down the ratio that if the construction is incomplete and the money deposited by the Complainants is lying with the Developer it is the discretion of the Complainants whether to await for the project to be completed or seek refund. In the instant case the facts and circumstances and the material on record evidence that the promised date of delivery of possession is 42 months from the date of the Builder Buyer Agreement and till date the construction is not complete. Hence we are of the considered view that there is deficiency in service on the part of the Developer and we direct refund of the amount deposited by each of the Complainants with reasonable interest. Ld. Counsel on instructions from the Complainants, who are also present in person, submitted that to put a quietus to this matter and not to be engaged in any further litigation, interest @ 9% p.a. is acceptable to each of the Complainants as the same was promised by the Developer in Clause 11.4 of the Builder Buyer Agreement. The relevant portion of the Clause 11.4, reproduced in paragraph 7, clearly stipulates that the Developer's liability, in the event of becoming unable to offer possession within 3 years from the date of the execution of the agreement, shall be limited to refund of the amounts paid by the intending allottees with simple interest @ 9% p.a. for the period such amounts were lying with the Developer.