ORDER

(PER MR. JUSTICE RAM SURAT RAM (MAURYA), PRESIDING MEMBER)

1.      Heard Mr. Kunal Garg, Advocate, for the complainants and Mr. Prabhakar Tiwari, Advocate, for the opposite parties. 

2.      Manju Aggarwal and Anuj Aggarwal have filed above complaint, for directing the opposite parties to (i) refund Rs.4962390/- with interest @18% per annum from the date of respective deposit till the date of refund, out of which Rs.500000/- is payable by opposite party-2; (ii) pay Rs.500000/-, as compensation for mental agony and harassment; (iii) pay Rs.80000/-, as litigation costs; and (iv) any other relief which is deemed fit and proper in the facts and circumstances of the case. The complainants stated that Parsvnath Developers Limited (opposite party-1) was a company, registered under the Companies Act, 1956 and engaged in the business of development and construction of group housing project. Opposite party-1 launched a group housing project in the name of “Parsvnath Royale” at village Kundi, Sector 20, Panchkula, Haryana in the year, 2006 and made wide publicity of its amenities and facilities. Real Pro Assets Limited (opposite party-2) was a real estate broker. Believing upon the representations of the opposite parties, the complainants booked Flat No.T-8-802, area 1780 sq.ft., basic sale price Rs.5785000/-, on 30.11.2010 and paid Rs.500000/- in cash to opposite party-2. Opposite party-1 executed Flat Buyer Agreement (FBA) in favour of the complainants on 18.07.2011. Annexure-1 of the FBA provides payment plan as “construction linked payment plan”. Clause-10(a) of the FBA provides 36 months period from commencement of the construction with grace period of six months, for completion of construction. As per demand of opposite party-1, the complainants paid the instalments on time and deposited total Rs.4962390/- till 26.12. 2014. Due date of possession expired long back but the opposite party could not complete the construction. Opposite party-1 used to demand instalment without achieving the mile stone of the construction for which demand is made. As the construction was not progressing on the spot, as such, the complainants stopped payments of the instalments. Home buyers Welfare Association held a meeting with the Directors of opposite party-1 on 18.09.2014. Opposite party-1 assured that possession to the allottees of Tower-1 and Tower-2 would be given by March, 2015 and to remaining allottees by March, 2016. Said period has also expired but opposite party-1 could not complete the construction. Complainant-2 wrote an email dated 15.04.2015, seeking information in respect of date of possession. Opposite party-1, vide email dated 14.05.2015, shared the photographs of the tower but did not give any date for possession. In spite of various assurances, opposite party-1 failed to handover possession then this complaint was filed on 20.06.2018, alleging deficiency in service.      

3.      Parsvnath Developers Limited (the opposite party) has filed its written reply, in which, booking of the flat, allotment of the flat and the deposits made by the complainant, have not been disputed. The opposite party, however, stated that the complainants delayed payment of instalments, for which, reminders dated 01.09.2011, 01.08.2012, 05.09.2012, 12.10.2012, 08.11.2012, 13.12.2012, 10.01.2013, 11.02.2013, 10.05.2013, 09.12.2013, 07.01.2014, 10.02.2014, 10.03.2014, 09.04.2014, 04.11.2014, 08.12.2014, and 26.12.2014 were given. They are not paying instalments, demanded on 12.03.2015, 08.04.2015 and 14.05.2015. M/s. Samar Estates Private Limited was the owners of the project land. The owner obtained Development Licence Nos.609 to 612 of 2006, dated 22.03.2006, from the Director, Town & Country Planning, Haryana. The owner entered into Development Agreements dated 17.02.2006 with Parsvnath Developers Limited for construction of the project. From 2009, global economic slowdown was experienced in real estate sector due to which, Foreign Direct Investment was