refund and interest be paid from the date of purchase of current purchaser

onsumer Protection Act, The Real Estate Regulatory Authority Act Civil Appeal  Challenging the order directing the refund the consideration amount  The appellant- builder is aggrieved by the order of the National Consumer Dispute Redressal Commission The respondent had sought through his complaint a direction against the builder for refund of the consideration amount of ₹1,93,70,883/- received by the latter, as consideration for sale of a flat along with interest @ 24% p.a. from the date different instalments were paid as well as compensation and costs – The NCDRC was of the view that the Complaint be allowed in part and directed the Developer to refund the amount deposited with the developer in respect of subject flat with interest It is argued by the builder that the relief granted by NCDRC is unwarranted Highlighting that the entire project had come to a standstill on account of an interim order by the NGT The builder stressed that these facts were within the knowledge of the original allottee as well as the purchaser When they decided to purchase it was decided that the respondent would purchase the flat and step into the shoes of the original allottee Further argued that the respondent as a prudent purchaser could not have reasonably expected the construction to be completed till the interim orders were vacated and some time was allowed for the construction to be completed Clearly the purchaser was only an investor and was not interested in residing in the flat Supreme Court held that There is material on the record suggestive of the circumstance that even as on the date of presentation of the present appeal – The occupancy certificate was not forthcoming In these circumstances given that the purchaser/respondent had stepped into the shoes of the original allottee and intimated Laureate about this fact – The interests of justice demand that interest at least from that date should be granted in favour of the respondent The directions of the NCDRC are accordingly modified The appeal is partly allowed [Paras 1, 8, 17, 18, 20, 23, 30, 31 and 32]

LAUREATE BUILDWELL vs CHARANJEET SINGH CA 7042/19 22/07/21 [ S. RAVINDRA BHAT JJ ]

[ SUPREME COURT ]