IN THE MATTER OF:
M/s Mahanagar Reality & Ors. Vs.
Dinesh Ramlal Oswal & Anr.
(Decided by the Hon’ble Maharashtra Real Estate Appellate
Tribunal, Mumbai)
Issue:
Whether the Promoters are entitled for exemption to make
compliance of Proviso of Section 43 (5) of the Real Estate
(Regulation and Development), Act, 2016?
Facts:
Promoters being the Applicant preferred an appeal against
the impugned order dated 10.01.2019 wherein the
promoter was directed to refund of the amount paid by the
allottees along with the interest amounts.
Thereafter, the Promoters filed an application for waiver of
pre-deposit mandated under Section 43(5) of Real Estate
(Regulation and Development) Act, 2016 before the
Hon’ble Appellate Tribunal.
Observations and Findings of the Hon’ble Tribunal:
The Hon’ble Appellate Tribunal observed that, it is
mandated under the Real Estate (Regulation and
Development) Act, 2016 that the promoter who prefers an
appeal has to deposit the amount(s) and comply with the
Proviso of Section 43 (5) of the Real Estate (Regulation and
Development) Act, 2016 for entertaining and hearing the
appeal, and that deposit in respect of the same is a prerequisite.
The Hon’ble Tribunal also observed that the right to appeal
can be conditional and quantified.
The Hon’ble Tribunal further observed that the Hon’ble
Supreme Court has previously settled this principle that
any statute has to be interpreted in the context in which
the words by are used in that particular statute.
Real Estate (Regulation and Development) Act, 2016 being
a special legislation enacted to protect to the interests of
the allottees cannot grant any exemption/ waiver to the
promoter from pre-deposit of the amounts to be made
under Section 43(5) of Real Estate (Regulation and
Development) Act, 2016