Chandigarh

StateCommission

CC/133/2017

Raghu Sharma - Complainant(s)

Versus

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

Ravinder Pal Singh, adv.

26 May 2017

ORDER

                    As per office report, rejoinder filed in the office, which is taken on record. Copy of the same has been supplied to the Counsel opposite.

                        The matter has amicably been settled between the parties. On getting instructions from Sh.Puneet Popli, Senior Manager of the Opposite Party, Sh.Sanjeev Sharma, Advocate, Counsel for the Opposite Party states that the entire amount i.e. Rs.70,44,118/- shall be refunded to the complainant with interest @8.75% p.a. (simple). It is further stated that the entire amount shall be paid in four equated installments. First installment shall be paid on or before 10.07.2017 and other three installments shall be paid each within two months thereafter i.e. on 10.09.2017, 10.11.2017 and 10.01.2018. Interest shall be calculated, as per the principal of decreasing balance. Besides as above, the Opposite Party also agreed to pay an amount of Rs.75,000/- towards compensation and litigation expenses. The said amount shall be paid with the last installment.

                        On getting instruction on telephone from the complainant, Counsel for the complainant states that offer made is acceptable to the complainant. It is made clear that in case, the commitment made by the Opposite Party is not honored, the order passed today shall be treated as a decree and it will be open to the complainant to execute the same. In that event, the Opposite Party shall pay interest @11% p.a. on the entire amount/balance amount.

                        In view of above, this complaint stands disposed of.

                        Certified copies of this order be sent to the parties, free of charge.