BEFORE THE TELANGANA STATE CONSUMER DISPUTES REDRESSAL COMMISSION: HYDERABAD.

C.C. No.181 OF 2018 Between :

Mr. Anka Rao Nagubandi, S/o. Late. Venkayya Nagubandi, Aged about: 59 years, Occ: Practicing Chartered Accountant, R/o. 6-3-1192/A to 5, Flat No.302, Block-A, Ashoka Lake View Apartments, Kundanbagh, Begumpet, Hyderabad – 500016.

…Complainant And

1. Savera Constructions Pvt. Ltd., Rep. by its Director, Sri P.V.s. Sharma, S/o. Late. Sri Venkateswarly, Aged about: 68 years and its Regd. Office at 6/10, Shanti Niketan, New Delhi – 110021.

2. Smt. Chennamchetty Kasturi Bai, W/o. C. Ramachandraiah, Aged about: 61 years, R/o. Plot No.43 A, Road No.71, Jubille Hills, Hyderabad – 500033.

3. M/s. Aditya Construction Co., India Pvt. Ltd., Rep. by its Executive Director, Sri thota Satyanarayana, S/o. Late. Sri T. Rama Rao, Aged about: 50 years and its Regd. Office at Aditya Mansion, Plot No.29/A, Road No.5, Jubilee Hills, Hyderabad 500033.

4. Sri Thota Chandrasekhar, S/o. Late. Sri T. Rama Rao, Chairman Aditya Construction Co., India Pvt. Ltd., Aditya Mansion, Plot No.29/A, Road No.5, jubilee Hills, Hyderabad 500033.

5. Smt. Radhika Kaveti, Head Customer Relations, Aditya Construction Co., India Pvt. Ltd., Aditya Mansion, Plot No.29/A, Road No.5, jubilee Hills, Hyderabad 500033.

…Opposite parties Counsel for the Complainant : M/s. Soma Venkateswarlu Counsel for the Opposite party No.1 : Mr. M.M. Krishnaiah Counsel for the Opposite party No.2 : Notice Served Counsel for the Opposite party No.3 : M/s. BBR Legal Counsel for the Opposite party No.4 : Notice Served Counsel for the Opposite party No.5 : M/s. Kochar & Co., QUORAM : HON’BLE SRI K. RANGA RAO, MEMBER (M-J), &

HON’BLE SMT.R.S.RAJESHREE, MEMBER (N-J)

WEDNESDAY, THE TWENTY SIXTH DAY OF SEPTEMBER TWO THOUSAND TWENTY FOUR

ORDER :

(PER HON’BLE SMT. R.S. RAJESHREE, MEMBER, N- JUDICIAL)

1. This complaint is filed on 20.08.2018 by the Complainant, U/s. 17(1)(a) of Consumer Protection Act, 1986, prays this Hon’ble State Commission to direct the Opposite Parties:-

(i) To pay a sum of Rs.60,33,198/- to the Complainant, towards initial advance paid, double bonanza investment appreciation, Service Tax/GST, Pre-EMI arrears and the amount disbursed by the Axis Bank to the Opposite Parties which is detailed in paragraph No.9 of the present complaint;

(ii) Pre-EMI defaults, if any, by the Opposite Parties as on the date of payment of the total amount;

(iii) A further sum of Rs.10,00,000/-, towards compensation &

damages for their deficiency of service, unfair trade practice and negligence;

(iv) To direct the Opposite Party to pay the further sum of Rs.50,000/- to the Complainant towards costs of this complaint;

(v) To direct the Opposite Party to pay interest from 01.05.2017 till the payment of compensation on the defaulted amounts;

(iv) To pass such other order or orders as the Hon’ble Court deems fit and proper in the circumstances of the case, in the interest of justice.

2. The brief facts of the case:- The Case of the Complainant is that the opposite parties have started a venture named “Capitol Heights” at Hafeezpet, Hyderabad and offered double bonanza investment appreciation scheme for flats. Being attracted by the said scheme the Complainant approached executive director of Aditya Constructions Company Private Limited, who explained about the double bonanza investment appreciation scheme. As per the said scheme the purchasers were entitled for return of 100% of initial paid amount after a lapse of one year. being lured by the said scheme and representations made by the Opposite Parties, the Complainant agreed to purchase a flat bearing No. 902 admeasuring 1950 sft, on 9th floor along with two car parking spaces in block A, situated at Hafeezpet, Hyderabad, for a total sale consideration of Rs.

92,80,000/-. A flat booking letter issued by Aditya constructions Pvt. Ltd., dated 25.01.2017 was received by the Complainant on 21.04.2017. After the acceptance of Double Bonanza Investment Scheme by Opposite Party