Western India Regional Council of
The Institute of Chartered Accountants of India

Law Update Details

June 2019 CA. Ramesh Prabhu, CA. Mukul Varma

Co-operative Update:

Bombay High Court in Org. Civil Appeal (L) 202 of 2019 in Arbitration petition 216 of 2019 in the matter of Patel Group and Co vs. L.I.G. – 1 Konkan Vasahat CHS Ltd, has confirmed the termination of redevelopment agreement due to default in paying rent and completing the project.

RERA Update:

MahaRE Appellate Tribunal Appeal No. 10565 in the matter of Olivia Buyers Association vs. T Bhimiyani Realty Pvt Ltd., it is held that changes in the policy of government or require additional permissions are not force majure as per RERA. Any delay due to such reasons will attracts interest payment by the promoter for delayed possession.


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