TaxTMI 
TaxTMI 
2019 (7) TMI 1646
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....ty "Corporate Debtor") having CIN no: U70109DL2006FTC151343. 2. The financial creditors/applicants are private individuals who agreed to invest an amount of Rs. 2,10,95,531/- only, including all taxes with the corporate debtor for the purchase of an apartment No. 0301 in tower No. Waving Teak WT 07 on 3rd floor and proportionate rights in common area and facilities of the complex in the said project called "windchants" at sector 112, Gurgaon. That the financial creditors/applicants vide apartment buyer agreement dated 26.12.2012 invested an amount of Rs. 46,13,056/- only with the corporate debtor for purchase of above mentioned apartment. That the corporate debtor illegally and unlawfully issued a notice dated 12.05.2015 where in the corp....
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....ute Redressal Commission New Delhi has stated that the Hon'ble Commission New Delhi lacks pecuniary jurisdiction as the subject matter of the dispute is an allotment agreement where in the consideration is in excess of Rs. 1,00,00,000. Further it is represented that in January 2014, the financial creditors came to know about the ongoing litigation at the Dwarka Expressway which is the prime fact of the present project "Windchants" at sector - 112, Gurgaon project, and the financial creditors were promised and assured that the said project is having a smooth access from Dwarka Expressway. The petitioner has submitted that as per the judgment of the Supreme Court in Laxmi Engineering Works v/s. P.S.G. Industrial Institute (1995) 3 SCC 583....
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....nd the cancellation notice dated 29.11.2013. It is further submitted that the amounts were forfeited in accordance with the terms of the agreement according to the clause 5.1 which is reproduced below: "5.1 It is agreed that 15% of the total BSP, Car parking Use charges and PLC (if applicable) as mentioned in Schedule V will be treated as Earnest Money for the purposes of this agreement. In case of any cancellation/termination of this agreement as a provision specified herein, the company shall be entitled to forfeit the entire earnest money or in the case of the total earnest money has not been received as at the date of such cancellation/termination, then all of such money that may have been paid by the buyer until date of cancellation/....
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....h cheque of Rs. 4,00,000/- and a separate cheque for Rs. 7,00,000/- but the cheque for Rs. 4,00,000/- was dishonoured by the drawee bank that further the petitioners provided a substitute cheque drawn on DCB bank with a delay of 30 days in making the payment of booking amount itself. In the reply it is further averred that despite delay and default by the petitioner the respondent on 07.08.2012 made provisional allotment of flat number WT 07/0301 in favour of the petitioner. That the petitioners have delayed the payments till October 2012 and then made a amount of Rs. 3,00,000/- and a separate cheque for amount of Rs. 6,60,481/-. However again the cheque for the amount of Rs. 6,60,481/- was dishonoured and a copy of the email dated 31.10.20....
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....dent informed the petitioners that as per the set agreement and amount of Rs. 31,91,456/- is liable to be forfeited as per the following details as mentioned in the reply Earnest Money (15% of the BSP + Car Parking + PLC) Rs. 28,46,850/- Interest on Delayed Payment which is non-refundable : Rs. 2,26,909/- Brokerage Paid which is nonrefundable Rs. 1,17,697/- 7. Further it is submitted that the issue of Dwarka expressway is old and existed before the date of application for the allotment. And since it is a state project and is not in the power of the respondent. The respondent represents and rely on the ground that cancellation of the agreement was done lawfully and in terms of the agreement itself depending on the clause 4.8 which is ....
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....14, 24.03.2014, 21.04.2014, 22.05.2014 and 24.0 6.2014. 8. Since total amount of Rs. 67,99,624/- had become outstanding by 24.06.2014 and no payment was made by the petitioners and the petitioner was in gross default of the payment obligation as per the buyer agreement the respondent vide letter dated 12.05.2015 intimated the petitioners that due to continued non adherence to financial discipline and with reference to the termination of the agreement through cancellation notice dated 29.11.2013 the refundable amount of Rs. 13,52,986/- was being repaid. 9. The respondent has also submitted that the time from 15.07.2015 to 20.08.2018 consumed by the Petitioners before the state consumer dispute forum cannot be excluded under section 14(2) o....