PENTA REALTOR Vs. B. N. SINGH

JUDGEMENT

(1.) This matter is heard through video conferencing.

(2.) Heard Shri Rajat Mittal, Advocate for the petitioner and Shri Nikhil Singhal, Advocate for the respondent.

(3.) The respondent on 07.02.2019 had filed a complaint before the Chairperson, Real Estate Regulatory Authority, Dehradun therein praying for grant of penalty and interest in respect of the premises, which has been ascertained, in accordance with the description given therein and also for the remittance of the interest, as prayed in the said application. The said complaint preferred on 07.02.2019; had been allowed and consequent thereto, the petitioner approached the Appellate Tribunal availing his remedy under Section 43 of the Real Estate (Regulation and Development) Act, 2016. In accordance to the proviso contained to subSection 5 of Section 43 of the Act, it contemplates a pre condition that prior to the entertainment of an appeal which is before the Appellate Tribunal, the appellant has to deposit at least 30% of the amount of penalty, which has been imposed by the Regulatory Authority. In furtherance thereto when the petitioner approached the Appellate Tribunal by filing an appeal, the Appellate Tribunal has passed by the impugned order dated 09.07.2020 which is under challenge in the present petition thereby directing the petitioner appellant i.e. developer to deposit a sum of Rs. 16.12 lakh, which is equivalent to the 50% of the interest levied by the impugned order under challenge before the Appellate Tribunal determined at the rate of annual interest of 9.55 on Rs. 150 Lakh for the period from April, 2018 to July, 2020.