The Supreme Court asked real estate major DLF Universal to refund 50% of the forfeited earnest money to a complainant within three months.
A bench comprising Justices S B Sinha and M K Sarma while partly allowing DLF's appeal said, "...we in exercise of our discretionary jurisdiction under Article 142 of the Constitution of India direct that 50% of the amount which was forfeited be refunded by the appellant (DLF) to the respondent within three months from date of this judgment."
"The balance 50% would be considered as forfeited in terms of the provisions of the agreement," the bench added.
It also said if DLF failed to pay the money within the stipulated period, it would have to pay interest at the rate of 8% per annum.
However, the bench also clarified that the order was passed in the peculiar facts and circumstances of the case and would not be considered as precedence in any other matter.
Source: TNN, Flat buyer gets only 50% refund
