...developer relies on the observation in the decision of this Court in Dhanda (2020) 16 SCC 318 that when parties have agreed to a consequence of delay in handing over possession, there...)4. Responding to the representation held out by the developer, the complainants booked flats in the residential project. The flat buyers entered into agreements with...services provided by the developer and voluntarily discharged the developer of all its liabilities under the ABA. As regards flat purchasers in Group C, Ncdrc noted that even those who have taken...

...cited in Arifur Rahman Khan (2020) 16 SCC 512 rendered on 24-8-2020. The fact that the developer offered an exit option with interest at...-2020 2020 SCC OnLine NCDRC 3 in a batch of consumer complaints. The complaints were instituted inter alia by an association r...of the developer in handing over possession of the apartments which were contracted to be sold. The complainants also specifically challenged the recovery of parking and club charges by the developer...

...bank/financial institution. The Allottee shall not omit, ignore, delay, withhold, or fail to make timely payments due to the Company in accordance with the Payment Plan opted by the Allottee in terms..., on account of the inordinate delay in completing the construction and obtaining the Occupation Certificate. Aggrieved by the said Judgment, the Appellant-Developer has filed the present batch of...the Fire Authority shall be submitted within 90 days from the date of issuance of the sanctioned Building Plans. 4. The Developer opened booking for the apartments in...

...of the apartment within the time stipulated as per the Apartment Buyers Agreement. In these appeals, we have upheld the Commission's order insofar as it directed the Developer to refund the amounts....2. The brief facts of the case are that the Developer, M/s Experion Developers Private Ltd., is the promoter of apartment units, Windchants, in Sector 112, Gurgaon, Haryana. The Consumer booked.... Under this clause, if the Developer did not offer possession within the period stipulated in the Agreement, it shall pay liquidated damages of Rs. 7.50 per square foot per month till possession is...

.... The fulcrum of the case of the developer rests on clause 14 of the ABA which is in the following terms:“14. The Allottee agrees and understands that if the company is...purchasers obtain loans and are required to pay EMIs to financial institutions for servicing their debt. Delays on the part of the developer in handing over possession postpone the date on which...date suffers consequences in terms of agony and hardship, not the least of which is financial in nature. Having paid a substantial amount of the purchase price to the developer and being required to...

...:“9. In view of the delay in the commencement of the Project on account of reasons attributable to APIIC alone, the Developer is suffering financial losses and great hardship. You woul...financial institutions are being paid interest on the aggregate amounts paid to APIIC for the Project, and the Developer is considering further appropriate action.”10...Pradesh in the Company between the successor States;(b) requiring the reconstitution of the Board of Directors of the Company so as to give adequate representation to the...

.... 3. According to the Complainants, the facts of the case are that in the year 2012, the Opposite Parties Developer launched a Group Housing Complex, christened as.... Samyak Projects Pvt. Ltd. (hereinafter referred to as the 'Developer') for the inordinate delay in handing over possession of the Flats booked by them in the...publicity of the Developer, booked their respective Residential Flats/Apartments in the said Project by paying the initial booking/application amount. Identical Allotment Letters containing the details...

...The intending Allottee(s) agrees that in consequence of the Developer/Company abandoning the Scheme or becoming unable to give possession within three years from the date of exe...whatsoever. However, the Developer/Company may, at its sole option and discretion, decide not to terminate this Agreement in which event the Developer/Company agrees to pay only to the original Intending.... Force MajeureThe Developer/Company shall not be held responsible or liable for not performing any of its obligations or undertakings provided for in this...

..., under Section 7 thereof, against the real estate developer. In addition, being financial creditors, they are entitled to be represented in the Committee of Creditors by authorised representatives. The...agreements in which a fixed monthly return was guaranteed by the developer, allottees were held to be neither operational nor financial creditors, resulting in great hardship to them. She took us through...] With respect to set-offs: a set-off of amounts due from financial creditors is a In the case of real estate allottees, amounts are also due and payable by the allottees to the developer i.e...

...”). The amendments so made deem allottees of real estate projects to be “financial creditors” so that they may trigger the Code, under Section 7 thereof, against the real estate developer. In addition...allottees who had agreements in which a fixed monthly return was guaranteed by the developer, allottees were held to be neither operational nor financial creditors, resulting in great hardship to them...often much smaller than the amount owed to a single bank/financial institution. •Real estate allottees are large in number - often hundreds or thousands, depending on the size of the developer and the...

...Redressal Commission1 dated 20 September 2019. 3 In 2012, the appellant floated a group housing project at Sector 89, Gurgaon. An advertisement was issued, inviting...prospective flat buyers. The respondent submitted an application on 14 March 2012 for the allotment of a dwelling unit in the project described as NBCC Heights. The terms and conditions for allotment were...set out in a standard form. Instalments towards the purchase price were payable under a time-linked plan. An allotment letter was issued to the respondent on 30 June 2012 for dwelling unit F-402 in...

...National Company Law Appellate Tribunal, New Delhi (hereinafter also referred to as “the Appellate Tribunal” or “Nclat”) in a batch of appeals preferred by various banks and financial institutions whereby...of IRP that the transactions in question cannot be countenanced.6.5. India Infrastructure Finance Company Ltd. : It is the financial creditor of the corporate debtor JIL...being the holding company, JAL had been providing financial, technical and strategic support to JIL in various ways being : (i) investment made in 99,50,00,000 shares of JIL (paid-up value Rs 995...

...: i) The Petitioners as well as the developer shall execute the development agreement which has been approved by five out of the six Petitioners in the general body meeting of the Petitioners held on...29 January, 2020, within a period of four weeks from the date of this order. ii) The developer undertakes to pay to the Petitioners the rent/compensation for the first quarter, within...1. Heard learned Advocates appearing for the parties. Since the building is admittedly in a dilapidated condition, there is no question of granting relief in terms of prayer clause (a...

...before the trial court. The developer of the property, original Defendant 1 is now Respondent 2 in all the appeals whereas Respondent 1 is a subsequent buyer of the property in question. M/s O.P...developer. As per the understanding arrived at between each plaintiff and the developer, the plaintiffs had to pay a total consideration of Rs 4,40,000 in respect of each flat in certain instalments...developer for the flats was also subject to the terms and conditions which had been incorporated in the letter of intent. Initially each plaintiff had given a sum of Rs 88,000 to the developer and a...

...1. The Developer, admittedly, failed to pay the water charges to the Corporation in respect of the water supplied to transit camps occupied by 128 tenants/eligible Slum Dwellers. In view...thereof, the slum dwellers have been deprived of water supply since 23 December, 2019. 2. When the matter was called out before this Court on 20 January, 2020, the Developer failed and...neglected to appear before the Court. In view thereof, the Developer/Respondent No. 6 was directed to remain present before this Court and was warned that upon failure to appear before the Court, an...

...Company Law Tribunal, Allahabad Bench, being C.A. No. 5 of 2020 in CP (IB) No. 77/ALD/2017, for submission and approval of the resolution plan in terms of Section 30(6) read with Sections 31 and...questioning the jurisdiction of NCLT to modify the resolution plan and to change the mode of payment to the dissenting financial creditors, being Company Appeal (AT) (Insolvency) No. 486 of 2020, stands..., stands transferred to this Court and is registered as T.C. (C) No. 236 of 2020. This company is also the respondent in various other appeals/petitions and has...

...vide orders dated 31.1.2014 and 10.8.2015 in Petition No. 79/TT/2012 and 54/TT/2013 respectively Page 7 of 65 Order in Petition No. 127/TT/2020 was trued-up and tariff for 2014-19 period for Assets-1...Certificate as per actuals. The contract-wise details for balance and retention payments are as under: Page 18 of 65 Order in Petition No. 127/TT/2020 ( in lakh) Asset Party Package Financial Year 2014-15 2015...0.00 Rishabh Construction 562.06 0.00 0.00 0.00 Page 19 of 65 Order in Petition No. 127/TT/2020 Asset Party Package Financial Year 2014-15 2015-16 2016-17 2017-18 Chattar Pal Sharma...

...Party Developer has failed to complete the Project and hand over the possession of the Apartment to them within stipulated time. 2. The facts as narrated in the Complaint...obtained a loan of ₹99,37,366/- from the ICICI Bank which was released in one installment to the Opposite Party Developer on 17.09.2013. It is stated that the Complainants were not informed that the...entire loan amount would be released to the Developer in one installment only in the very initial stage of Project in the year 2013 when excavation work was just started and the payment was linked...

...tax to be paid estimated in line with the provisions of the relevant Finance Act applicable for that financial year to the company on pro-rata basis by excluding the income of non-generation or non....” 71. The Petitioner has submitted that MAT rate is applicable to the Petitioner's Company. Accordingly, MAT rate applicable in 2019-2020 has been considered for the...from time to time) of the respective financial year directly without making any application before the Commission as provided in Tariff Regulation, 2019 as per para 8 above for respective block...

...been shown to me that these financial obligations of the Developer were in any way conditional or contingent upon any further act of the Society or its members. In other words, the obligations began to...is to be held that the default by the Developer in meeting its financial obligations is not a fundamental breach because of the alleged misrepresentation as to title, then that really amounts to..., are those where the society has vacated, the developer has taken possession, has done some amount of work, but then at some point falls behind in payment of financial obligations and completion of...