Karnataka High Court
M/S Alekhya Property Develoments ... vs The Karnataka Real Estate Regulatory ... on 11 November, 2024
Author: Hemant Chandangoudar
Bench: Hemant Chandangoudar
-1-
NC: 2024:KHC:45614
WP No. 3938 of 2024
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 11TH DAY OF NOVEMBER, 2024
BEFORE
THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
WRIT PETITION NO. 3938 OF 2024 (GM-RES)
BETWEEN:
M/S ALEKHYA PROPERTY DEVELOMENTS
PRIVATE LIMITED
A COMPANY INCORPORATED UNDER
THE PROVISIONS OF THE COMPANIES ACT,1956
HAVING ITS REGISTERED OFFICE AT
NO. 2/4, LANGFORD GARDEN
RICHMOND TOWN, BENGALURU KARNATAKA 560025
REPRESENTED BY ITS DIRECTOR, MR. B M KARUNESH
...PETITIONER
(BY SMT. SHIVANI P MURTHY, ADVOCATE FOR
SRI. AISHWARYA PRASAD.,ADVOCATE)
AND:
1. THE KARNATAKA REAL ESTATE
REGULATORY AUTHORITY
2nd FLOOR , SILVER JUBILEE BLOCK
Digitally signed by B
K
UNITY BUILDING, CSI COMPOUND
MAHENDRAKUMAR BENGALURU 560 027
Location: HIGH
COURT OF REPRESENTED BY ITS SECRETARY.
KARNATAKA
2. MS. POOJA PRIYADARSHINI
AGED MAJOR,
FATHERS NAME NOT KNOWN TO THE PETITIONER
AT F-08A, SAIL CITY, NEW PUNDANG
RANCHI, JHARKHAND 843 004.
...RESPONDENTS
(BY SRI. GOWTHAMDEV C ULLAL., ADVOCATE FOR R1;
SRI. M D RAJAKUMAR, ADVOCATE FOR R2)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226
AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO SET
-2-
NC: 2024:KHC:45614
WP No. 3938 of 2024
ASIDE THE JUDGMENT DATED 06/12/2023 PASSED BY THE R1
AUTHORITY IN COMPLAINT NO. CMP/00573/2023 (ANNEXURE-
A).
THIS PETITION, COMING ON FOR PRELIMINARY
HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE
THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
ORAL ORDER
The petitioner has challenged the order passed by
Respondent No.1 - Bank, wherein the petitioner was directed to
pay interest on the delayed period at the rate of SBI MCLR + 2%
from 31.12.2019 until the date of handing over possession along
with the occupancy certificate. Additionally, the promoter was
required to pay interest for the delay period as calculated by the
complainant, amounting to Rs.24,14,191/-.
2. By an order dated 18.07.2024, this Court referred the
matter to the Bengaluru Mediation Centre, Bengaluru, to explore
the possibility of a settlement between the parties.
3. The parties appeared before the Mediation Centre and
entered into a memorandum of settlement under Section 89 of the
Code of Civil Procedure read with Rules 24 and 25 of the
Karnataka Civil Procedure (Mediation) Rules, 2005.
4. As per the terms of the settlement, Respondent No.2
agreed to pay a sum of Rs.1,26,51,146/- towards the sale
consideration for the purchase of the apartment unit.
NC: 2024:KHC:45614
5. Respondent No.2 has already paid a partial amount of
Rs.63,84,131/- to the petitioner and is due to pay Rs.72,00,350/- as
the remaining balance towards the sale consideration.
6. Under the terms of the settlement, it was agreed
between the petitioner and Respondent No.2 that a total
compensation of Rs.6,27,008/- would be payable by the petitioner
to Respondent No.2 for the delay in handing over the apartment
unit. This compensation amount would be adjusted against the
outstanding balance payable by Respondent No.2 to the petitioner.
7. The petitioner and Respondent No.2 further agreed
that the petitioner shall complete all agreed-upon fittings for the
apartment unit on or before 24.12.2024.
8. Additionally, Respondent No.2 agreed to pay the
remaining balance of Rs.65,73,342/- after deducting the
compensation amount of Rs.6,27,008/- from the actual outstanding
balance of Rs.72,00,350/- on or before 24.12.2024.
9. In light of the settlement reached between the parties,
the petition is disposed of accordingly.
Sd/-
(HEMANT CHANDANGOUDAR)
JUDGE
BKM
