Mr. Mahesh Pariani Vs Monarch Solitaire LLP

Decided On	16 Oct 2017
Appellant	Mr. Mahesh Pariani
Respondent	Monarch Solitaire LLP
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Summary

Case Summary

According to Mr. Mahesh Pariani, in 2014 he invests some amount in the residential project known as ‘Monarch Solitaire’ and reserved four apartments in this project. Still, after reservation, the respondent neither gave back his invested money with interest nor is giving the possession of the apartment. Therefore, the complainant prayed for the recovery of the principal amount with interest.

Through the documents, it is observed that both the parties have signed a ‘Memorandum of Understanding’ on 12^th March 2014 in which it is clear that the complainant is an investor not an allotee. It is also mentioned that when the complainant sells his apartments then the profit sharing ratio shall be 70:30% between the complainant and the respondent. It means the complainant is a “Co-promoter” of the project.

Conclusion by MahaRERA

According to the Authority, from the above evidence the dispute between the parties is of a civil nature between the promoter and a co-promoter and doesn’t contain any breach of the Real Estate (Regulation & Development) Act, 2016.

Hence, the complaint is disposed off.