ORDER

1.      Heard Ms. Pallavi Parmar, Advocate, for the complainant, Mr. Pravin Bahadur, Advocate, for opposite party-1 and Ms. Aakanksha Kaul, Advocate, for opposite party-2.

2.      Dr. George Easow has filed above complaint, for directing opposite party-1 to (i) refund entire amount of Rs.14641294/- with interest @15% per annum, (ii) pay pre-EMI of 6 months during the liability period, (iii) pay Rs.25/- lacs, as compensation for delay in delivery of possession, mental agony and harassment, (iv) pay Rs.one lac as litigation costs; and for directing opposite party-2 to (v) start subvention plan, from the date of disbursement of loan and declare moratorium for 6 months from the date of disbursement of loan, (vi) restructure the loan repayment schedule from the date of disbursement of the loan, giving moratorium of 6 months and adjusting the amount already paid towards future instalments, (vii) Reverse the adverse CIBIL score entry, if any; and (viii) any other relief which is deemed fit and proper in the facts and circumstances of the case; 

3.      The complainant stated that Selene Construction Limited (opposite party-1) (the builder) was a company, registered under the Companies Act, 1956 and sister concern and subsidiary of Indiabulls Real Estates Limited and engaged in the business of development and construction of group housing project and selling its unit to the prospective buyers. Indiabulls Housing Finance Limited (opposite party-2) (the financer) was a finance company, registered under the Companies Act, 1956 and engaged in the business of providing home loans. The builder launched a group housing project, in the name of “Indiabulls Centrum Park” at village Daulatabad, Sector-103, Gurgaon, in the year 2013 and made wide publicity of its facilities and amenities. The builder advertised subvention scheme for payment, under which 15% of BSP was payable by the buyer, 80% of BSP had to be advanced by the financer as loan to the buyer and 5% of BSP was payable on offer of possession. Pre-EMI was payable by the builder for a period of 24 months. Believing upon the representations and promises of the builder, the complainant booked a 4BHK+SQ flat and deposited Rs.100000/- on 11.02.2013 and Rs.2482719/- on 22.05.2013. The builder allotted Unit no.241, area 2875 sq.ft., on 05.06.2013. The builder got signatures of the complainant on loan application form at the time of booking, on which the financer sanctioned a loan of Rs.12000000/- on 31.08.2013. A Tripartite Agreement was executed between the parties on 05.09.2013. Thereafter, the financer directly disbursed the amount of Rs.12000000/- to the builder on 11.09.2013, without any permission of the complainant. The builder executed Flat Buyer’s Agreement with unreasonable delay on 31.07.2014. Clause-21 of the agreement provides 36 months period from the date of agreement with grace period of six months, for completion of the construction. Clause-22 of the agreement provides for delayed compensation @Rs.5/- per sq.ft. per month on super area. The builder realized 95% of BSP till 11.09.2013 but failed to offer possession on due date. Due date of possession including grace period expired on 31.01.2018. Clause-22 of the agreement provides for payment of delayed compensation, but the builder did not pay delayed compensation. Under subvention scheme, the builder had to pay Pre-possession EMI, for a period of 24 months but stopped payment, after February, 2015. The builder, vide letter dated 21.06.2019, offered possession and demanded Rs.3804152/-, in which, pre-EMI interest and delayed compensation were not adjusted rather an interest of Rs.147467/- was charged. The complainant was in India, in September, 2019 and went in the office of the builder and requested for inspection of the flat, which was denied. The complainant protested the demand and asked to cancel his allotment and return his money with interest @18% per annum. When oral request was not accepted, the complainant gave a