Chandigarh

StateCommission

CC/257/2016

Naresh Kumar Sharma - Complainant(s)

Versus

Omaxe Chandigarh Extension Developers Pvt. ltd. - Opp.Party(s)

Rajesh Verma, Adv.

23 Sep 2016

ORDER

At the time of arguments, dispute stands settled between the parties.

                        It is agreed between the parties that the Opposite Parties shall re-pay the amount received through financial institution/Bank with interest @10% p.a. payable from the respective dates when the amount was received from the financial institute/Bank. The amount, so calculated, shall be paid on or before 30.11.2016 to the complainants. Out of the said amount, the complainants undertake to pay whatever amount is due from them and get a no objection certificate. The said certificate shall be supplied to the Builder and the balance amount paid to the Company by the complainants shall be returned to them (complainants) with interest @9% p.a. (simple) from the respective dates when the  amount(s) were received by the Opposite Parties. The said amount with interest up-to-date shall be paid on or before 28.02.2017. It is made clear that in case, commitment is not honoured by the Opposite Parties, the complainants shall become entitled to refund of the amount claimed/paid by them to the Opposite Parties with interest @12% p.a. till such time, the payment is not made. It is further made clear that in terms of ratio of judgment dated 20.11.2015 passed by this Commission in the case titled as ‘Shri Ajay Gauba Vs. Parsvnath Developers Limited, Execution Application No.87 of 2015’, tax will not be deducted at source.

                        In view of above, the complaint stands disposed.

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