Lawstreet Journal

5-Crore Compensation Awarded by the Maharashtra RERA Appellate Tribunal Upheld by Bombay HC

Lawstreet Journal 29 Sep 2020 9:15pm

Image courtesy: Lawstreet Journal Executive 5-Crore Compensation Awarded by the Maharashtra RERA Appellate Tribunal Upheld by Bombay HC

The INR 5 Crore compensation that was to be given to a party who had not been handed over the possession of a certain property even after a delay over around 80 months was upheld by The Bombay High Court. Justice SC Gupte passed the order and dismissed the second appeal. The present matter was filed by Renaissance Infrastructure Ltd. i.e. the promoters, who were represented by Senior Advocate Prasad Dani along with Advocate Sachin Pawar.

In the current dispute, Renaissance failed to provide possession of the property in 2010. This violated the terms of the contract between the Renaissance and the purchasers. The compensation was calculated by the RERA Authority in accordance with the agreement. The Authority valued the compensation to be amounting to INR 5.04 Crore. The decision was taken in the favour of the purchases.

This decision was challenged by the Renaissance before the appellant Tribunal which ordered the Renaissance to deposit 50 % of the compensation. This was ordered in accordance with Section 43(5) of the Real Estate (Regulation and Development) Act, 2016

Section 43(5) of the Real Estate(Regulation and Development) Act, 2016 reads as “Any person aggrieved by any direction or decision or order made by the Authority or by an adjudicating officer under this Act may prefer an appeal before the Appellate Tribunal having jurisdiction over the matter:

Provided that where a promoter files an appeal with the Appellate Tribunal, it shall not be entertained, without the promoter first having deposited with the Appellate Tribunal at least thirty… Continue Reading...

Tagged: Bombay High Court  
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