The appeal was filed by M/s Gargi & Associates Pvt. Ltd. against an order dated 02.06.2022 passed by the RERA, Assam wherein the RERA, Assam had directed the builder to return the consideration amount of Rs.34,00,000 along with interest to the buyers of a flat for failure to timely deliver the flat to them. As per the order of the RERA, Assam, the rate of interest is to be calculated fromthe date of receipt of the consideration amount by the builder.
The order was passed by Justice (Retd.) Manojit Bhuyan, Chairperson and Onkar Kedia, Member, Assam REAT ruled that the proviso to sub-section (5) of section 43 of the Real Estate (Regulation and Development) Act, 2016 contains two distinct parts relating to the quantum of deposit, required to be made by the promoter with the Appellate Tribunal before the appeal is entertained. The first part is where a penalty has been imposed by the RERA and the same is put to challenge by a promoter by way of appeal. In this case, the promoter must first deposit with the Appellate Tribunal at least 30% of the penalty. The second part is where challenge is made to an order of RERA where a promoter has been directed to make payment of the total amount to the allottee against the purchase of a flat. In this case, the promoter has to deposit with the REAT the total amount to be paid to the allottee including interest before the appeal can be entertained. The Appellate Tribunal cannot accept any deposit other than the total amount.
The Tribunal, therefore, asked the builder to first deposit Rs. 64,21,955 including the consideration amount of Rs. 34,00,000 paid by the buyers to the builder and the interest amount of Rs. 30,21,955.