Investors are Promoters!

By Dr Sanjay Chaturvedi, LLB, PhD

Mahesh Pariani V/s Monarch Solitaire LLP (CC006000000000789) Order 16th Oct 2017 by Maha RERA

The Complainant has invested some amount in the residential Project known as Monarch Solitaire’ and reserved four apartments in the said Project in 2014. The said Project is registered under Maha RERA with registration No. P51700012008. The Complainant stated that after reservation of four apartments, Respondent neither gave his invested money back with interest nor is giving the possession of the apartments earmarked for him. Therefore, he prayed that Maha RERA passes an appropriate order for recovery of the principal amount with interest.

Maha RERA observed “It is evident that the dispute between the complainant and the Respondent is of a civil nature between the promoter and co-promoter and does not pertain to any contravention of the Real Estate (Regulation and Development) Act,2016. The complaint is, therefore, dismissed.”

Credits: Landmark Judgements of RERA (Book)

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