Economy

Supreme Court orders Unitech to compensate homebuyers for litigation costs

Supreme Court orders Unitech to compensate homebuyers for litigation costs”

The Supreme Court today awarded Rs 80,000 compensation each to 39 flat buyers of Unitech's Vistas project in Gurgaon, towards litigation cost.

The 39 buyers had sought Rs 2 lakh each for the mental agony.

It directed advocate Pawan Shree Agrawal, who is assisting the court as amicus curiae, to create a website by September 21, in which the home buyers could upload their claims for possession of flats or to get their money back.

The directive had come on a Unitech appeal against a June 2015 order of the National Consumer Disputes Redressal Commission (NCDRC) directing it to pay 12 per cent interest on the flat cost for failing to deliver possession till then despite having promised to do so in 2012.

Earlier, the firm had told the court that it has complied with the direction on refund of principal and interest to the home buyers of its Gurugram's project.

On 24 April, the apex court had directed Unitech to deposit 14% interest on Rs16.55 crore invested by the 39 homebuyers at its project in Gurugram by 8 May.

The real estate sector is facing a multi-year slowdown, leading to delays in handover of projects, forcing buyers to protest on streets and approach courts.

The apex court last Friday refused to grant interim bail to the jailed promoters Sanjay Chandra and Ajay Chandra and said their pleas will beconsidered only after the data of homebuyers seeking refund is collated. media reported.



Like this

Latest


21 September 2017
Indians Shut Brantley Down For A Week
He was named an All-Star after a solid first half, the second time being recognized with said honor after he did so in 2014. Brantley has not played since August 8 after spraining his right ankle in the outfield against the Colorado Rockies.

21 September 2017
Andre Iguodala nearly left Warriors for Rockets
Myers called Warriors owner Joe Lacob and was able to keep Iguodala with a three-year, $48 million contract. Only once Iguodala called Myers after their subsequent meeting did things reportedly change for Iguodala.

21 September 2017
Haley: Diplomacy efforts with North Korea 'pretty much exhausted'
Trump's earlier warning he would rain "fire and fury" on a recalcitrant North Korea, she said, was "not an empty threat". Trump plans to meet with Prime Minister Shinzo Abe and South Korean President Moon Jae-in on the sidelines of the U.N.

21 September 2017
Two Britain First leaders charged with religiously aggravated harassment
Before being charged, Golding and Fransen recorded a video of themselves outside the police station . They have been bailed ahead of an appearance at Medway Magistrates' Court on 17 October.

21 September 2017
'Gossip Girl' Had Scenes That Were Too Racy to Air
He ends up finishing the series by getting married and goes on to live happily ever after with Blair, apparently facing no repurcussions.

21 September 2017
'Some Rohingyas have links to IS, Pakistan's ISI' says Indian government
In the Indian media, too, opinion writers have argued whether India can ignore the developments in Myanmar . The Indian government calls them " illegal , a security threat and (a) strain on India's resources".

21 September 2017
Threats can not help resolve Korean peninsula situation, China says
General Assembly , doing so for the fifth straight year since returning to power in December 2012. "Well, it doesn't. The projectile took off from Sunan, an airfield near North Korea's capital, Pyongyang, and flew over Hokkaido.

21 September 2017
Hospital let's kids 'drive' themselves to operating room
But a children's hospital in San Diego may have found a more fun way of getting young patients to the operating room. As per the report, Dr Carvalho added: "The kids are having fun".

21 September 2017
USA has 'many' military options
North Korea has said it needs the capability to strike the USA with a nuclear weapon to deter an American invasion. According to the US and South Korean military, the missile was launched from the Pyongyang area.

21 September 2017
Puerto Rican TJC student thankful family is safe after Maria
It's the cryptic call Lynnet Figueroa got from one of her several family members who are sitting in the path of Hurricane Maria . But no deaths have been reported on the USA territory. "My coach and the girls keep asking me how I'm doing", she said.



Recommended