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Showing posts with label SEBI. Show all posts
Showing posts with label SEBI. Show all posts

Saturday, 10 April 2021

Cases pending or ongoing with other tribunals will not be entertained by RERA

 The authority in Gurugram, Haryana in Sh. Sukhbir Singh Grewal Vs. M/s MVL Ltd (Complaint no. 48 of 2018) reiterated that it will not entertain any case which is already pending in another tribunal or court. 

In this particular case, the buyer had filed a case against the builder for delay in giving possession of property beyond the date mentioned in the agreement. The builder submitted that the delay was a result of the interim order passed by SEBI. The builder had moved the Securities Appellate Tribunal (SAT) challenging SEBI’s decision.

 RERA stated that ‘As the matter is already with the SEBI/SAT, accordingly there is no case left for the present before this authority and to continue further proceedings in the matter. Let the issue be decided by the SEBI/SAT. Once the SAT set aside the order of the SEBI then the only allottee may come to us for proceedings under the RERA Act.’