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Supreme Court Partly Allows GMADA's Appeal in Consumer Case; Sets Aside Additional Loan Interest Award. Refund of Flat Purchase Amount with 8% Compound Interest Upheld as per Letter of Intent, but Directing Developer to Pay Interest on Home Loan Not Justified.

The dispute arose from a residential scheme launched by Greater Mohali Area Development Authority (GMADA) for 'Purab Premium Apartments' in Sector 88,...

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Supreme Court Allows Builder's Appeals in Consumer Cases, Sets Aside Refund Order. Clause 11.4 of Builder-Buyer Agreement Limits Developer's Liability to Refund Only if Agreement is Terminated; Allottees Not Entitled to Refund Without Termination.

The appeals arise from a common judgment of the National Consumer Disputes Redressal Commission (NCDRC) in ten consumer cases filed by allottees again...

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Supreme Court Dismisses Appeal by Purchasers of Property in Bombay Rents Act Dispute Over Construction Loan. Court Holds That Claim for Recovery of Loan Advanced Under Section 18(3) of the Act Arises Out of Act, Vesting Exclusive Jurisdiction in Court of Small Causes Under Section 28.

The litigation arose from a dispute over a construction loan and the consequent failure to grant tenancy, which brought into question the jurisdiction...

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Bombay High Court Allows Summary Judgment in Commercial Suit for Recovery of Loan Amount. Plaintiff entitled to decree for Rs.1.65 Crores with interest as defendant failed to raise a triable issue under Order XXXVII CPC.

The plaintiff, Tradelink Exim (India) Pvt Ltd, filed a Commercial Suit under Order XXXVII of the Code of Civil Procedure, 1908, against the defendant,...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...