Requirement of pre-deposit towards compliance with proviso to ...

Real estate promoters must deposit interest amount per MahaRERA Order as pre-condition for appeal entertainment, subject to COVID-19 period deduction.

Case Laws Indian Laws

July 31, 2024

Requirement of pre-deposit towards compliance with proviso to Section 43 (5) of RERA - liability of Appellant to pay interest is not in praesenti but in future - direction to deposit entire interest amount when proviso permits 30% of penalty. Proviso applicable only when promoter files appeal, not flat purchaser/allotee. Total amount means payable on Order date, not future. Deferment of interest payment doesn't mean no liability. Pre-deposit objective is deterrent against endless litigation. Deferment for project interest, not exemption from pre-deposit. Appellant must deposit interest per MahaRERA Order as pre-condition for appeal entertainment, subject to COVID-19 period deduction. MahaRERA direction is interest, not penalty, so entire interest amount must be deposited. Appeals partly allowed for COVID-19 period interest deduction. Appellate Tribunal Order modified accordingly.

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Requirement of pre-deposit towards compliance with proviso to ...

Real estate promoters must deposit interest amount per MahaRERA Order as pre-condition for appeal entertainment, subject to COVID-19 period deduction.

Case Laws Indian Laws

July 31, 2024

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