booked an apartment measuring an extent of 1143 sq. ft., in the 1st Floor, Flat No.113(Tower-2) of the project “Ramani Coconut Akshaya Today” and they entered into a Memorandum of Agreement dated 30.09.2013 with the 4th respondent, as per which, the petitioner had agreed to purchase the said apartment for a sale consideration of Rs.36,00,000/- and the 4th respondent had agreed to complete the entire construction within a period of 15 months from the date of the said agreement ie., within 31.12.2014. Since the 4th respondent failed to handover the possession of the flat within the agreed time, the petitioner and his late wife decided to terminate the said agreement dated 30.09.2013, vide termination letter dated 03.02.2015 and had sought for refund of the sum of Rs.34,92,000/- paid by the petitioner. However, as the 4th respondent failed to repay the amount, the petitioner filed a complaint u/s. 31 r/w 71 of the Real Estate (Regulation and Development) Act, 2016 in RCP.No.02 of 2022 and the Single Member bench, vide order dated 22.11.2022 directed the 4th respondent to refund the sum of Rs.34,92,000/along with interest at the rate of 9.30% p.a. from the date of payment till the date of repayment and also ordered for payment of Rs.25,000/- towards