Case nº Consumer Case No. 43 Of 2012 of NCDRC Cases, December 04, 2014 (case 1. Brij Mohan Gupta and Anr. 2. Mr. R.M. Gupta Vs 1. Parsvnath Developers Ltd 2. Chandigarh Housing Board)

JudgeFor Appellant: Mr. Naresh Kumar Bansal, Advocate and For Respondents: Mr. Manoranjan Sharma, Advocate and Mr. Rakesh Bhardwaj, Advocate and Ms. Rachna Joshi Issar, Advocate Alongwith Ms. Sweta Pant, Advocate
PresidentMr. Ajit Bharihoke, Presiding Member and Mrs. Rekha Gupta, Member
Resolution DateDecember 04, 2014
Issuing OrganizationNCDRC Cases

Order:

  1. Parties have arrived at an amicable settlement. It is submitted by respective counsels for the parties on instructions that opposite parties No.1 & 2 have agreed to pay if 70% share of the principal amount i.e. Rs.89,58,994/- deposited by the complainants against the housing project with 12% interest p.a. from the dates of respective deposits. It is stated that opposite parties No.1 & 2 shall pay the principal amount plus interest component at the aforesaid rate after deduction of tax at source on interest latest by 30.4.2015. However, in the event of the opposite parties No.1 & 2 failing to pay the amount as prayed within the stipulated period the principal cum interest cumulatively will entail interest @ 24 % p.a. w.e.f. 1.5.2015 till the date of realization.

  2. Learned counsel for opposite party No.3 states that opposite party No.3 has already paid its part of 30% share of principal amount to the complainants. Opposite party No.3 in full and final settlement of claim of the complainants is ready to pay 9% interest on 30% of principal deposited from the respective dates of deposits of installments till date on which 30% amount was paid to the complainant latest by 30.4.2015. Learned counsel for the complainants states that he accepts the...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT