ANIMESH GUPTA Vs. M/S. RAHEJA DEVELOPERS LTD

JUDGEMENT

(1.) Heard Mr. S. Surender, Advocate, for the complainant and Mr. Siddharth Banthia, Advocate, for opposite party-1.

(2.) Above complaint has been filed, for directing opposite party-1 to (i) refund Rs. 7446104.00 (i.e. the loan amount) with interest @18% per annum from the date of disbursement till the actual payment to the complainant, (ii) refund Rs. 2411026.00 with interest @18% per annum, from the date of deposit till the date of payment, (iii) pay Rs. 55226.00 per month with interest @18% per annum, as Pre-EMI paid by the complainant to opposite party-2, (iv) pay Rs. 500000.00 as compensation for mental agony and harassment, (v) pay Rs. 2.00 lacs, as the costs of litigation; and (vi) any other relief which is deemed fit and proper in the facts and circumstances of the case.

(3.) The complainant stated that M/s. Raheja Developers Limited (opposite party-1) (the builder) was a company, registered under the Companies Act, 1956 and engaged in the business of development and construction of group housing projects and selling its units to the prospective buyers. ICICI Bank Limited (opposite party-2) was a banking company and used to provide financial assistance to the public. The builder launched a group housing project in the name of "Raheja Revanta" at village Shikohpur, Sector-78, Gurgaon, in the year 2014 and made wide publicity of the rosy pictures of the project. Allured with the representations of the builder and believing on it, the complainant booked a 1BHK flat on 25/11/2014 and deposited booking amount. The builder allotted Apartment No. C-273, super built area 1197.83 sq.ft., basic sale price of Rs. 9188554.00 @ of Rs. 7671.00 per sq.ft. and executed an Agreement to Sell dtd. 13/1/2015 in favour of the complainant. The builder also executed a Memorandum of Understanding dtd. 13/1/2015 (MOU). Under Clause-8 of the MOU, the builder promised to deliver possession within 33 months to 36 months from the date of booking; Failing which, the complainant would be entitled to cancel booking and claim compensation @ Rs. 1400.00 per sq.ft. along with refund of total amount deposited; If the builder fails to refund the amount along with compensation within 60 days, the builder would be liable to pay interest @18% per annum on the deposit of the complainant. Payment plan was "Construction Linked Payment Plan", under which total payment had to be made in 13 instalments. Last instalment of 5% of sale consideration and other charges had to be paid on receipt of "Occupancy Certificate". The builder also introduced Subvention and Guaranteed buy-back scheme and under clause-8 of it, the builder undertook to pay Pre-EMI on the loan to the bank till the offer of possession. The complainant availed loan of Rs. 7994000.00 from ICICI Bank Limited, which was sanctioned on 31/12/2015. The complainant deposited Rs. 952266.00 on 25/11/2014, Rs. 737106.00 on 12/1/2015, Rs. 9523.00 on 28/1/2015, Rs. 7542.00 on 28/1/2015, Rs. 943398.00 on 4/3/2015, Rs. 51193.00 on 27/6/2015, Rs. 9530.00 on 27/6/2015, Rs. 4277.00 on 29/12/2015, Rs. 4795.00 on 16/2/2016, Rs. 4794.00 on 8/4/2016, Rs. 4790.00 on 10/6/2016 and Rs. 4850.00 on 23/8/2016 with the builder. ICICI bank Limited disbursed Rs. 5119203.00 on 1/4/2015, Rs. 423351.00 on 25/11/2015, Rs. 474618.00 on 25/1/2016, Rs. 474619.00 on 8/4/2016, Rs. 61996.00 on 6/6/2016, Rs. 412214.00 on 6/6/2016 and Rs. 480103.00 on 4/8/2016 to the builder from the loan account of the complainant. The builder realised total Rs. 10180168.00 from the complainant till 23/8/2016. Due to unforeseen contingencies, the complainant, vide email dtd. 11/4/2017, cancelled the allotment and asked the builder to buy-back the flat. The builder, vide email dtd. 11/4/2017, replied that his request to buy-back would be processed as per terms and conditions. The complainant, vide email dtd. 29/4/2017, made a query as whether he would be require to inform ICICI Bank Limited. The builder, vide email dtd. 1/5/2017, informed the complainant that his request for buy-back would be considered within 60 days after expiry of 36 months from the allotment. The complainant handed over a written application dtd. 28/8/2017, for cancellation of his allotment and refund entire amount deposited by him along with compensation as per MOU. Thereafter, a meeting was held on 16/9/2017 with the complainant and employees of the builder, in which, they informed that refund would be delayed as the builder was facing financial problem. The complainant again handed over a written application dtd. 13/12/2017, for cancellation of his allotment and refund of entire amount deposited by him along with compensation as per MOU. Then, a meeting was held with the complainant and employees of the builder and thereafter, the builder gave an email dtd. 19/12/2017, mentioning that total Rs. 4243330.00 would be refunded and two post-dated cheques of Rs. 20.00 lacs and Rs. 10.00 lacs each would be given on 15/1/2017 and 15/3/2018, respectively and balance amount and bank liability would be closed by 30/6/2018. The complainant, vide email dtd. 20/12/2017, sought for clarification on certain issues, which was replied vide email dtd. 26/12/2017. The builder gave a cheque of Rs. 20.00 lacs on 21/2/2018, which was en-cashed on 1/3/2018. The builder, vide email dtd. 8/3/2018, asked the complainant to supply the loan account number of ICICI bank Limited for depositing EMI, which was supplied vide email dtd. 9/3/2018. But the EMI was not deposited. ICICI Bank Limited started realization of EMI of Rs. 55000.00 from the complainant w.e.f. 1/4/2018. The builder gave Rs. 55846.00 to the complainant towards EMI of April, 2008 on 23/5/2018. The complainant, vide email dtd. 11/5/2018, asked the builder to settle the matter within 7 days but they did not give any heed to it. Then this complaint was filed on 4/6/2018, alleging deficiency in service.