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TMI Blog2020 (6) TMI 836X X X X Extracts X X X X X X X X Extracts X X X X ..... ner : Mr. Gaurav Mitra, Adv., Mr. Yudhist Narain Singh, Adv., Mr. Tanvir Nayar, AOR. For the Respondent : Mr. Shyam Divan, Sr. Adv., Mr. Amol Chitale, Adv., Ms. Sugandha Yadav, Adv., Mrs. Pragya Baghel, AOR. ORDER 1 Delay condoned. 2 Admitted. 3 By its order dated 15 January 2020, the National Consumer Disputes Redressal Commission directed the appellant to refund to the respondents an amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was to be granted to the respondents, there was no obligation on the part of the flat purchasers to pursue the remedy for obtaining possession. 5 Two submissions have been urged on behalf of the appellant by Mr Gaurav Mitra, learned counsel. First, it has been submitted that under the terms of the tripartite agreement that was entered into between the appellant, the respondents and HDFC Limited, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should be scaled down having regard to market conditions and the orders of this court in similar cases involving refunds to flat buyers. 6 Responding to the above submissions, Mr Shyam Divan, learned senior counsel submitted that the entire amount of Rs 2,96,89,370 is the consideration which has been paid over to the developer. Of this amount, some amount has been paid over directly to the build ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refund the entire amount of consideration which has been received for the flat to the flat buyers. We are consequently of the view that the order for refund in the amount of Rs 2,96,89,370 does not warrant any interference. However, in view of the orders which have been passed by this Court in other cases, and having due regard to market conditions we scale down the interest to nine per cent per a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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