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The Court directed the Housing Company to handover possession to the respondents within 2 weeks and upheld NCDRC order to award simple interest @6% from 07-09-2015 to the date of offer of possession or date of receipt of valid partial OC, whichever is later.
More than 170 petitions were filed by over 1200 homebuyers/borrowers, raising issues of circumvention of regulatory framework by Banks and Housing Financial Corporations, and the resultant illicit benefits said to have been drawn by builders/developers at the cost of the homebuyers.
The homebuyers’ case was that almost 70-80% of the loan amounts under subvention schemes were disbursed by the banks to the builders-cum-developers as ‘first tranche’, without due diligence, despite project milestones not having achieved.
Delhi High Court: In a petition filed by Jaideep Singh (’Petitioner’) for quashing of FIR registered by Shaildendra Singh (‘Respondent
Allahabad High Court: The Division Bench of Pankaj Naqvi and Piyush Agrawal, JJ., issued a general mandamus to Competent Authorities under U.P. Apartment
Competition Commission of India (CCI): The Coram of Ashok Kumar Gupta (Chairperson) and Sangeeta Verma (Member) and Bhagwant Singh Bishnoi (Member), analysed