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IN THE HIGH COURT OF KERALA AT ERNAKULAM
M. A. ABDUL HAKHIM
Cordial Foundation Pvt. Ltd., Represented By Its Executive Director N. Vijayen Unnithan, S/o. Late R. Parameswaran Nair – Appellant
Versus
Purushothama Bharathi, S/o. Late Mathew M. Kuzhiveli – Respondent
JUDGMENT :
M. A. ABDUL HAKHIM, J.
1.The appellants in this Miscellaneous Second Appeal (MSA) filed under Section 43 (5) of the Real Estate Regulation and Development Act, 2016 (the Act) are the Promoters/respondents in Complaint - CCP No. 50/2022 filed by the Allottee before the Adjudicating Officer.
2. The complaint filed by the Allottee before the Adjudicating Officer was allowed, declaring that the Allottee is entitled to get compensation of Rs.1,69,80,000/—with interest at the rate of 14.85% per annum from 08.02.2021 till realization from the Promoters and their assets along with a cost of Rs.25,000/.
3. The Promoters filed the appeal as REFA No.94/2023 before the Appellate Tribunal challenging the Order of the adjudicating Officer. Promoters filed I.A No. 2/2024 seeking exemption from statutory deposit under the Proviso to Section 43 (5) of the Act. The Appellate Tribunal its Order dt 03.05.2024 dismissed I. A No. 2/2024 directing the Promoters to make deposit of the entire amount due under the impugned order by way of Fixed Deposit with the Appellate Tribunal for a period of one year drawn on any Nationalised Bank functioning within the Ernakulam District and to make such depos
The pre-deposit requirement under Section 43(5) of the Real Estate Act is obligatory, and cannot be replaced with security measures like a Bank Guarantee.
The mandatory pre-deposit under Section 43(5) of the Real Estate Regulation and Development Act cannot be substituted with a bank guarantee, as the ordered amount is compensation.
The requirement of a pre-deposit under Section 43(5) of the Real Estate (Regulation and Development) Act, 2016 is mandatory for promoters appealing against orders, with no discretion to waive this re....
Pre-deposit under Section 43(5) of the Real Estate Act must be refunded post-appeal resolution, safeguarding allottee interests.
In compensation claims under the Real Estate (Regulation and Development) Act, a promoter must deposit only 30% to entertain an appeal, contrary to 100% for return of amounts, as clarified by the Sup....
The Appellate Tribunal has no discretion to allow a lower deposit than the total amount due before an appeal is entertained under Section 43(5) of the Real Estate (Regulation and Development) Act, 20....
The main legal point established in the judgment is the court's authority to reduce the pre-deposit condition for hearing an appeal under Section 43(5) of the RERA Act based on genuine hardships, as ....
Lack of payment of higher amount of pre-deposit - Statutory conditions requiring pre deposit to be made with respect to disputed demand of penalty (where a minimum 30% was required to be deposited an....
The requirement of pre-deposit under Section 43(5) of the Real Estate (Regulation and Development) Act, 2016 is mandatory and cannot be waived unless there are exceptional circumstances of complete f....
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