Appellant / Complainant
Nilay Kumar Agarwal
Respondent
IFCI Infrastructure Development Limited
ifci infrastructure development limited
Appellant
Legal Issues & Claims Raised
Case Procedural History & Progression Tree
Visual step-by-step tree detailing dispute origin, interim hearings, and final tribunal ruling.
Complaint Filing & Dispute Registration
Complaint registered under Case ID 0901126003352019 by Nilay Kumar Agarwal against IFCI Infrastructure Development Limited before up_rera.
for delivery of Judgment/Order
The Tribunal set aside the Regulatory Authority's order and ruled that the appellant is entitled to interest at the rate of SBI's MCLR+1% for the 55-month delay in possession, subject to adjustments for compensation already paid.
Final Hearing
The Tribunal heard arguments from both parties regarding the appellant's claim for interest on delayed possession and subsequently reserved its judgment.
Final Hearing
The Tribunal granted an adjournment requested by the respondent's counsel due to illness and scheduled the appeal for hearing on 02.08.2022.
Final Hearing
The court adjourned the proceedings of Appeal-133/2022 upon the request of the parties and scheduled the next hearing for 19.07.2022.
Final Hearing
The Tribunal granted an adjournment requested by the appellant's counsel and rescheduled the hearing for July 15, 2022.
Final Hearing
The Tribunal granted an adjournment requested by the respondent and rescheduled the hearing for May 5, 2022.
Further Order
The Tribunal noted the respondent's inability to attend due to personal reasons and, upon the appellant's request, scheduled the appeal for a final hearing on 29.03.2022.
Further Order
The Tribunal condoned a 13-day delay in filing the appeal subject to a cost of Rs. 500 to be deposited in the Tribunal's fund and directed the registry to register the matter as a regular appeal.
Further Order
The Tribunal scheduled the case for a final hearing on January 3, 2022.
Delay condonation
The Tribunal has adjourned the matter and scheduled the appeal for further orders on November 29, 2021.
Delay condonation
The Tribunal granted an adjournment requested by the respondent's counsel and directed both parties to exchange pleadings and file originals in the Registry before the next hearing on 28.10.2021.
Hearing
The Tribunal granted an adjournment requested by the appellant's counsel due to him being out of station and rescheduled the case for April 13, 2021.
Hearing
The Tribunal adjourned the matter to 25.03.2021 due to an ongoing strike by advocates and directed the parties to exchange pleadings in the interim.
For Order
The Tribunal granted a request from the applicant's counsel to adjourn the matter and rescheduled the case for hearing on 03.03.2021.
For Order
The Tribunal granted a request for adjournment from the appellant's counsel on personal grounds and rescheduled the case for 10.02.2021.
Tribunal Order #0901126003352019-29-09-2022
The Tribunal set aside the Regulatory Authority's order and ruled that the appellant is entitled to interest at the rate of SBI's MCLR+1% for the 55-month delay in possession, subject to adjustments for compensation already paid.
Tribunal Order #0901126003352019-03-01-2022
The Tribunal condoned a 13-day delay in filing the appeal subject to a cost of Rs. 500 to be deposited in the Tribunal's fund and directed the registry to register the matter as a regular appeal.
Tribunal Disposal & Final Award Ruling
The Tribunal set aside the Regulatory Authority's order and ruled that the appellant is entitled to interest at the rate of SBI's MCLR+1% for the 55-month delay in possession, subject to adjustments for compensation already paid. Awarded in favor of Appellant. Awarded interest rate: SBI's MCLR+1%.
Final Tribunal Order & Ruling Verdict Summary
Official Ruling Summary
The Tribunal set aside the Regulatory Authority's order and ruled that the appellant is entitled to interest at the rate of SBI's MCLR+1% for the 55-month delay in possession, subject to adjustments for compensation already paid.
Ruling Awarded To
Appellant
Awarded Interest Rate
SBI's MCLR+1%
Interest Period
from June 2013 till the date of offer of possession i.e. 29.12.2017
Statutory Sections Cited (RERA Act 2016)
Appearing Legal Counsel & Advocates
Appellant Advocate(s)
- Anurag Singh
Respondent Advocate(s)
- Anurag Arora
- Bhairav Dutt Sharma
Official RERA Tribunal Orders (2)
The Tribunal set aside the Regulatory Authority's order and ruled that the appellant is entitled to interest at the rate of SBI's MCLR+1% for the 55-month delay in possession, subject to adjustments for compensation already paid.
The Tribunal condoned a 13-day delay in filing the appeal subject to a cost of Rs. 500 to be deposited in the Tribunal's fund and directed the registry to register the matter as a regular appeal.
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