AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Mr. Kapil Sibal and Dr. Abhishek Manu Singhvi, learned senior counsel, along with Mr. Akhil Sibal, learned counsel for the appellants and Mr. Neeraj Kumar Jain, learned senior counsel for the respondents.
In course of hearing, learned counsel for the parties have agreed that the respondents who have not been handed over the flats, shall be handed over the same positively by 30th November, 2016. It is further agreed that instead of 12% interest, the respondent shall be granted 9% interest from expiry of three years from the date of agreement. Needless to say, the compensation that has been fixed by the National Consumer Disputes Redressal Commission (for short, ''the National Commission'') for delay in delivery shall become effective if the possession is not handed over on or before 30th November, 2016. It is also clarified that apart from interest at 9% and what we have mentioned above, nothing else shall be claimed.
Recording such concession by the learned counsel for the parties, the order passed by the National Commission stands modified.
The civil appeal is disposed of accordingly.
As the order is passed on concession, the order passed shall not be treated as precedent. No costs.