Section 43(5) i.e pre deposit of sum by Promoter filing Appeal against the impugned order

In a Landmark Judgement passed by Allahabad HC in the matter of Radicon Infrastructure and Housing Pivate Limited vs. Karan Dhyani (Second Appeal No. - 364 of 2018). passed on 26th July, 2019.

The Hon'ble High Court in para 26 has interpreted section 43(5) i.e pre deposit of sum by Promoter filing Appeal against the impugned order is required to deposit

•  30 % or such higher sum as may be determined by Tribunal with respect to penalty imposed upon promoter.

• 100 % of amount determined to be payable being refund of principal/ interest.

This judgment will come as a relief for lakhs of homebuyers across the country who after spending several years before RERA authority and managing to secure a favourable order were then made to suffer by the developer who then used to prefer Appeal and further delay the proceedings.
The Complete Judgement can be found at the Following link.

https://media-exp1.licdn.com/dms/document/C4D1FAQGOdR4_m4LTEw/feedshare-document-pdf-analyzed/0/1617626541425?e=1617728400&v=beta&t=z-Hd96USUusVgjXeXSQqrxs_HvABg2w1VpWdnFBIM_k
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