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Sushil Mantri, the manager of Mantri Developers. (Photo: mantri.in)
Real property steadfast Mantri Developers has said it volition refund Rs 7.12 crore to the Apartment Owners Welfare Association of Mantri Residency successful Bengaluru pursuing proceedings earlier the National Consumer Disputes Redressal Commission.
The proceedings were initiated aft nonmigratory Shivakumar Krishnamurthy filed a ailment regarding the refundable attraction deposits collected astatine the clip of level purchases which had not been returned to the buyers.
The committee primitively ruled successful favour of the residents successful a January 2022 order, stipulating that involvement connected the full sum would beryllium acceptable astatine six per cent, calculated from September 1, 2017, to beryllium paid wrong six weeks of the order. Any further hold would incur an involvement complaint of 9 per cent per annum.
The counsel for the residents, Anirudh Suresh, noted that warrants had been issued against Sushil, Pratik, and Snehal Mantri aft “years of inactivity” successful the matter. The bailable warrants against Pratik and Snehal Mantri were enactment connected clasp by the Karnataka High Court pending their quality earlier the commission. The Indian Express had reported connected the warrant issued against Sushil Mantri.
In transportation with this, the counsel stated, “In a caller tribunal proceeding connected September 23, 2024, Mr. Sushil Mantri, representing Mantri Developers, appeared earlier the NCDRC and confirmed that the institution is acceptable to refund the main magnitude to the homebuyers.”
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