Venkataraman Krishnamurthy vs Lodha Crown Buildmart Pvt. Ltd
Judges (2)
Case Significance
Venkataraman Krishnamurthy vs Lodha Crown Buildmart Pvt. Ltd is a Supreme Court of India decision dated February 22, 2024 (citation: insc-2024-132). Homebuyers sought refund of Rs. 2,25,31,148 paid for a 4BHK apartment in Mumbai's Lodha Evoq project after the developer failed to deliver possession by the contractual deadline. The Supreme Court set aside the NCDRC's order directing delivery of possession, holding the consumer forum overstepped by ignoring binding contractual covenants, and directed the developer to refund the deposited amount in 12 monthly installments with 12% simple interest as per the agreement's own terms. The bench comprised Justices Aniruddha Bose and Sanjay Kumar. The judgment was delivered by Justice Sanjay Kumar.
Summary
Homebuyers sought refund of Rs. 2,25,31,148 paid for a 4BHK apartment in Mumbai's Lodha Evoq project after the developer failed to deliver possession by the contractual deadline. The Supreme Court set aside the NCDRC's order directing delivery of possession, holding the consumer forum overstepped by ignoring binding contractual covenants, and directed the developer to refund the deposited amount in 12 monthly installments with 12% simple interest as per the agreement's own terms.
What was the outcome of Venkataraman Krishnamurthy vs Lodha Crown Buildmart Pvt. Ltd?
Homebuyers sought refund of Rs. 2,25,31,148 paid for a 4BHK apartment in Mumbai's Lodha Evoq project after the developer failed to deliver possession by the contractual deadline. The Supreme Court set...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (insc-2024-132)