SURENDRA KAPUR Vs. PUJA CONSTRUCTION LTD

JUDGEMENT

(1.) The present Complaint is filed under Sec. 21(a)(1) of the Consumer Protection Act, 1986.

(2.) Opposite Party No.1 is a company registered under the Companies Act, 1956. Opposite Party No.2 is the Director of Opposite Party No.1. Opposite Parties Nos.3 and 4 are wife and daughter of Opposite Party No.2. The case of the Complainant is that the Complainant and the Opposite Party No.1 entered into a Settlement Agreement dtd. 21/11/2006, whereby the Complainant was promised a residential duplex flat in a real estate project labelled as Rajmahal Royal Residency Project, for his personal use. Despite several communications and assurances, the Opposite Parties failed to hand over possession of the said residential duplex flat to the Complainant.

(3.) The Complainant on being approached with respect to a proposed investment opportunity by Opposite Party No.2 and his father, decided to invest an amount of Rs.17,00,000.00 on the basis of a Memorandum of Understanding for Joint Venture Project. The Complainant sent a further draft of Rs.25,00,000.00, along with letter dtd. 5/11/1996, wherein it was stated that a further payment of Rs.20,00,000.00 would be made upon execution of the Agreement as envisaged in the Memorandum of Understanding. Opposite Party No.2 however, unilaterally changed the amount from Rs.20,00,000.00 to Rs.25,00,000.00 and terms of the Agreement. Thereafter, the Complainant, vide letter dtd. 31/8/1998, expressed his disinterest in the Project and requested Opposite Party No.2 to refund his money with interest. After repeated attempts to resolve the matter, the Complainant requested Opposite Party No.2 to refund his deposit of Rs.42,00,000.00 with compound interest @ 24% p.a., vide letter dtd. 22/7/1999.