Allowed

M/S Alekhya Property Develoments Private Limited v. the Karnataka Real Estate Regulatory Authority

Karnataka HC11 Nov 2024WP/3938/2024

Case brief

AI extract

What is this about?

A writ petition challenging an order under the Consumer Protection Act was disposed of after parties settled via the Bengaluru Mediation Centre. Respondent agreed to pay sale consideration, and petitioner agreed to delay compensation.

What did the court decide?

Petition disposed of after parties entered into a settlement compromising the sale price and compensation for delay.

M/S Alekhya Property Develoments Private Limited Vs… — Specific Performance | Karnataka HC (2024)

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NC: 2024:KHC:45614 WP No. 3938 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 11^TH DAY OF NOVEMBER, 2024

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BEFORE

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THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR WRIT PETITION NO. 3938 OF 2024 (GM-RES)

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BETWEEN:

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M/S ALEKHYA PROPERTY DEVELOMENTS PRIVATE LIMITED A COMPANY INCORPORATED UNDER THE PROVISIONS OF THE COMPANIES ACT,1956 HAVING ITS REGISTERED OFFICE AT NO. 2/4, LANGFORD GARDEN RICHMOND TOWN, BENGALURU KARNATAKA 560025 REPRESENTED BY ITS DIRECTOR, MR. B M KARUNESH

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…PETITIONER

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(BY SMT. SHIVANI P MURTHY, ADVOCATE FOR SRI. AISHWARYA PRASAD.,ADVOCATE)

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AND:

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Digitally signed by B K MAHENDRAKUMAR Location: HIGH COURT OF KARNATAKA

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THE KARNATAKA REAL ESTATE REGULATORY AUTHORITY 2nd FLOOR , SILVER JUBILEE BLOCK UNITY BUILDING, CSI COMPOUND BENGALURU 560 027

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REPRESENTED BY ITS SECRETARY.

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MS. POOJA PRIYADARSHINI AGED MAJOR, FATHERS NAME NOT KNOWN TO THE PETITIONER AT F-08A, SAIL CITY, NEW PUNDANG RANCHI, JHARKHAND 843 004.

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…RESPONDENTS

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(BY SRI. GOWTHAMDEV C ULLAL., ADVOCATE FOR R1; SRI. M D RAJAKUMAR, ADVOCATE FOR R2)

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THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO SET

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2 - NC: 2024:KHC:45614 WP No. 3938 of 2024

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ASIDE THE JUDGMENT DATED 06/12/2023 PASSED BY THE R1 AUTHORITY IN COMPLAINT NO. CMP/00573/2023 (ANNEXUREA). THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR

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ORAL ORDER

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The petitioner has challenged the order passed by Respondent No.1 - Bank, wherein the petitioner was directed to pay interest on the delayed period at the rate of SBI MCLR + 2% from 31.12.2019 until the date of handing over possession along with the occupancy certificate. Additionally, the promoter was required to pay interest for the delay period as calculated by the complainant, amounting to Rs.24,14,191/-.

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By an order dated 18.07.2024, this Court referred the matter to the Bengaluru Mediation Centre, Bengaluru, to explore the possibility of a settlement between the parties.

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The parties appeared before the Mediation Centre and entered into a memorandum of settlement under Section 89 of the Code of Civil Procedure read with Rules 24 and 25 of the Karnataka Civil Procedure (Mediation) Rules, 2005.

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As per the terms of the settlement, Respondent No.2 agreed to pay a sum of Rs.1,26,51,146/- towards the sale consideration for the purchase of the apartment unit.

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NC: 2024:KHC:45614 WP No. 3938 of 2024

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Respondent No.2 has already paid a partial amount of Rs.63,84,131/- to the petitioner and is due to pay Rs.72,00,350/- as the remaining balance towards the sale consideration.

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Under the terms of the settlement, it was agreed between the petitioner and Respondent No.2 that a total compensation of Rs.6,27,008/- would be payable by the petitioner to Respondent No.2 for the delay in handing over the apartment unit. This compensation amount would be adjusted against the outstanding balance payable by Respondent No.2 to the petitioner.

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The petitioner and Respondent No.2 further agreed that the petitioner shall complete all agreed-upon fittings for the apartment unit on or before 24.12.2024.

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Additionally, Respondent No.2 agreed to pay the remaining balance of Rs.65,73,342/after deducting the compensation amount of Rs.6,27,008/- from the actual outstanding balance of Rs.72,00,350/- on or before 24.12.2024.

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In light of the settlement reached between the parties, the petition is disposed of accordingly.

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Sd/-

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(HEMANT CHANDANGOUDAR) JUDGE

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BKM

M/S Alekhya Property Develoments Private Limited v. the Karnataka Real Estate Regulatory Authority

Case brief

What is this about?

What did the court decide?

M/S Alekhya Property Develoments Private Limited v. the Karnataka Real Estate Regulatory Authority

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

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