District Consumer Disputes Redressal Commission-I, U.T., Chandigarh

CONSUMER COMPLAINT NO.218  OF  2021

BEFORE:

          PAWANJIT SINGH, PRESIDENT

          SURJEET KAUR, MEMBER

          SURESH KUMAR SARDANA, MEMBER

PRESENT:

Sh.Devinder Kumar, Advocate for Complainants alongwith Sh.Nitin Chawla, Complainant No.1 in person.

Sh.Varun Bhardwaj, Advocate for OPs alongwith Sh.R.K.Aggarwal, OP No.2 in person & being Managing Director of OP No.1-The Shalimar Estates (P) Limited.

Dated :  21^st March 2024

ORDER

1.   Heard. The matter between the parties has been settled. Vide his separate statement, Sh.R.K.Aggarwal, OP No.2 in person & being Managing Director of OP No.1-The Shalimar Estates (P) Limited has stated that the matter has been settled between the parties with the term that OP No.1 & 2 shall pay an amount of Rs.26,00,000/- to the complainants in equal share towards full and final settlement in the present matter, out of which first installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 02.12.2024; second installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 01.03.2025, third installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 02.06.2025 and last/fourth installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 01.09.2025. It has been further stated by Sh.R.K.Aggarwal that the aforesaid amount of installment shall be transferred in the bank account of the complainants straightway through electronic mode. It has been further stated by Sh.R.K.Aggarwal that on the payment of entire amount, the complainants shall not have any right, title or interest in the property in question and the documents in original, if any, with regard to property in question will be returned by the complainants to the OP No.1 & 2 at the time of last payment. It has been further stated by Sh.R.K.Aggarwal that in case of any default in payment, the defaulted amount shall be paid alongwith interest @ 9% p.a. from the date of default. Vide his separate statement, Sh.Nitin Chawla, Complainant No.1 has admitted the aforesaid statement of Sh.R.K.Aggarwal, OP No.2 in person & being Managing Director of OP No.1-The Shalimar Estates (P) Limited and prayed that the complaint be disposed of in terms of aforesaid settlement. He has prayed that the aforesaid amount may kindly be transferred straightway into the following bank accounts of the complainants:-

1. Complainant No.1   Nitin Chawla

Name of Bank       Axis Bank Ltd.

                   MDC, Sector 6, Panchkula     (Haryana)

Bank Account No.   923010017590256

IFSC Code No.      UTIB0001752

2. Complainant No.2   Shiv Charan Sachdeva

Name of Bank       Punjab National Bank

                   Pushkar (Ajmer), Rajasthan

Bank Account No.   1709000108016715

IFSC Code No.      PUNB0082500

     It has been further stated by complainant No.1 that he does not press the present consumer complaint against OP No.3 and prayed that the same be dismissed as withdrawn against OP No.3 only. Vide his separate statement, Sh.Devinder Kumar, Counsel for Complainants has endorsed the aforesaid statements of Sh.R.K.Aggarwal, OP No.2 in person & being Managing Director of OP No.1-The Shalimar Estates (P) Limited and Sh.Nitin Chawla, Complainant No.1 in person, on behalf of Sh.Shiv Charan Sachdeva,Complainant No.2

2.   In view of the statements made by the parties and in terms of the settlement, the complaint stands disposed of by passing the following order:-

1. OP No.1 & 2 shall pay an amount of Rs.26,00,000/- to the complainants in equal share, out of which first installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 02.12.2024; second installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 01.03.2025, third installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 02.06.2025 and last/fourth installment of Rs.6,50,000/-, i.e. Rs.3,25,000/- each, will be paid to both the complainants on or before 01.09.2025 and the aforesaid amount of installment shall be transferred in the aforesaid bank account of the complainants straightway through electronic mode.
2. On the payment of entire amount, the complainants shall not have any right, title or interest in the property in question and the documents in original, if any, with regard to property in question will be returned by the complainants to the OP No.1 & 2 at the time of last payment.
3. In case of any default in payment, the defaulted amount shall be paid by OP No.1 & 2 alongwith interest @ 9% p.a. from the date of default.

3.   The present consumer complaint is dismissed as withdrawn against OP No.3 being not pressed. The complaint is disposed of accordingly.

4.   Certified copies of this order be sent to the parties free of cost. The file be consigned.