NCDRC

NCDRC

FA/456/2017

PARSVNATH DEVELOPERS LIMITED - Complainant(s)

Versus

PANKAJ GUPTA & ANR. - Opp.Party(s)

M/S. KNM & PARTNERS

07 Nov 2017

ORDER

NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION
NEW DELHI
 
FIRST APPEAL NO. 456 OF 2017
 
(Against the Order dated 04/09/2016 in Complaint No. 178/2010 of the State Commission Delhi)
1. PARSVNATH DEVELOPERS LIMITED
HAVING ITS REGISTERED OFFICE AT: PARSVNATH TOWER, NEAR SHAHDARA METRO STATION,
SHAHDARA, DELHI-110032
...........Appellant(s)
Versus 
1. PANKAJ GUPTA & ANR.
S/O. SH. V.P. GUPTA, 314, GREAT INDIA GUPTA APARTMENTS, PLOT NO. 15, SECTOR-6, DWARKA,
NEW DELHI-110075
2. LAKSHMI DEVI GUPTA
W/O. SH. V.P. GUPTA, 314, GREAT INDIA APARTMENTS, PLOT NO. 15, SECTOR-6, DWARKA,
NEW DELHI-110075
...........Respondent(s)

BEFORE: 
 HON'BLE MR. JUSTICE D.K. JAIN,PRESIDENT
 HON'BLE MRS. M. SHREESHA,MEMBER

For the Appellant :
Ms. Minakshi Jyoti, Advocate
For the Respondent :
Ms. Poonam, Advocate
Mr. D.K. Gupta, Advocate

Dated : 07 Nov 2017
ORDER

We are happy to note that during the pendency of this Appeal, the parties have decided to arrive at an out-of-Court amicable settlement.

As per the terms of settlement, the Appellant Company shall pay to the Respondents/Complainants the entire principal amount, deposited by them with the Appellant Company, along with simple interest @ 12% p.a. from the date of each deposit till the date of actual realization, by way of compensation, on or before 24.11.2017.  We may note that a sum of ₹10,00,000/- has already been paid by the Appellant to the Complainants.  

The Appeal stands disposed of on the afore-noted consent terms, with no order as to costs.

In view of the settlement, the Execution proceedings, already initiated against the Appellant Company, shall remain stayed till 24.11.2017.  If the Appellant fails to comply with the afore-noted terms of settlement, it will be open to the Complainants to move the Executing Court for revival of the said proceedings forthwith.

Since the Appellant Company has settled the dispute with the Complainants, let the amount(s) deposited by them at the time of filing of the Appeals be refunded.

Dasti.     

 
......................J
D.K. JAIN
PRESIDENT
......................
M. SHREESHA
MEMBER

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