Real Estate

Real Estate Transactions

SC rejects Bombay Dyeing's plea against Wadala flat buyers' refund order

Economic Times  

The Supreme Court, granting no relief to Bombay Dyeing and Manufacturing Company, dismissed its special leave petitions for permission to file an appeal against an August 30 high court judgement that had upheld a Real Estate (Regulation and Development) Act (RERA) tribunal for refund to flat buyers over possession delay. The project is in the Wadala suburb of central Mumbai. In its order on August 30, the Bombay High Court had served a setback to Bombay Dyeing which constructed two “ultra-luxurious” towers in Wadala. The HC had upheld the RERA tribunal's order directing it to refund with interest amounts received from buyers who booked flats in 2012-13. The flats were to be delivered by 2017.