SANJEEV VANNILAPARAMBATH Vs. NITESH ESTATES LTD.

JUDGEMENT

(1.) Heard counsel for the parties.

(2.) This complaint has been filed for directing the opposite parties to refund the amount which the complainants and other flat buyers have deposited with opposite party-1 to the complainants and other flat buyers with interest @18% per annum from the date of respective deposits of the money till the date of actual refund, cost of the complaint and any other relief which is deemed fit and proper in the facts of the case.

(3.) It has been stated that opposite party-1 was a company, registered under the Companies Act, 1956 and engaged in the business of development and construction of group housing project. Opposite party-2 to 7 were land owners over which the project was being developed. In the year 2014, the opposite parties launched a project of group housing in the name of 'Nitesh British Columbia' at Anjanapura Village, Uttarahalli Hobli, Bangalore South Taluk, Banglore district. On coming to know of the project, 20 complainants (out of which one has already withdrawn), booked the flats for their own use. Later on, they realized that the opposite parties could not proceed with the construction of the project. On coming into force of Real Estate (Regulation and Development) Act, 2016, opposite party-1, vide letter dtd. 6/11/2017, informed the RERA Authority that the work of the project has been stopped and they were in process of refunding the booking amounts to the allottes. In the circumstances that the opposite parties abandoned the project, the complainants cancelled their allotment vide notice dtd. 20/2/2018 and demanded refund of their money with interest. When notice was not honoured, this complaint was filed.