Chandigarh

StateCommission

CC/114/2017

Krishan Kumar Gupta - Complainant(s)

Versus

M/s Omaxe Chandigarh Extension Developers Pvt. Ltd. - Opp.Party(s)

S.K.Sud, Adv.

14 Jun 2017

ORDER

At the time of arguments, the matter has amicably been settled between the parties. It is not in dispute that the complainant has paid an amount of Rs.65,72,300/- to the Opposite Parties to purchase a residential plot. It is also not in dispute that the complainant is a subsequent purchaser and in his name, endorsement was made on 07.09.2012.

                   It is stated by Counsel for the Opposite Parties on getting instructions from Sh. Deepanjit Singh, Deputy Manager (Legal) that the Opposite Parties are ready to repay the amount paid by the complainant with interest @8.5% p.a. from the date when endorsement was made in his favour and on amount deposited thereafter from respective dates of deposits made.

                             It is further stated by Counsel for the Opposite Parties that entire amount with interest shall be paid in four equated bimonthly installments. First installment shall be paid on or before 20.08.2017 and thereafter, on or before 20.10.2017,  20.12.2017 and 20.02.2018. Interest will be calculated on the principle of diminishing balance till the date of making the last payment.

                          Counsel for the complainant on getting instructions on telephone states that the offer made by Counsel for the Opposite Parties is acceptable to the complainant.

                   In view of above, this complaint stands disposed of.

                   It is further agreed that over and above the amount, as settled above, the Opposite Parties will pay an amount of Rs.65,000/- towards compensation. The said amount will be added in the last installment. It is made clear that in case, the Opposite Parties failed to comply with the undertaking given, the order passed will be deemed as a decree and it will be open to the complainant to get it executed.

                   Sh.Sanjeev Sharma, Advocate undertakes that the post dated cheques will be handed over to the Counsel for the complainant within 15 days from today. It is further agreed that in case, any cheque on presentation is not honoured, the Opposite Parties shall pay an amount of Rs.50,000/- for each dishonor. Further, in that event the order passed will be deemed to be a decree  and it will be open to the complainant to get it executed.