ALSO READPossibility of settlement between Rathore & builders: SC told Settlement between MoS Rathore and builder on cards: SC told MoS Rathore and builder in negotiation over flat, SC told Talks between MoS Rathore and builder almost complete: SC told Sit with builder and iron out differences: SC to MoS Rathore
Real estate firm Parsvnath Developers has informed the Supreme Court that it has arrived at a settlement with union minister Rajyavardan Singh Rathore over the possession of his flat in the plush Exotica project in Gurugram.
The firm has told the apex court that it needs 12 weeks time to implement the terms of settlement arrived at with the minister of state for information and broadcasting.
A bench of Justices Dipak Misra and M M Shantanagoudar adjourned the matter for further hearing in the first week of September after advocate Gopal Shankarnarain sought time for the implementation of settlement.
Rathore had earlier termed the flat given to him by the developer as uninhabitable, pointing out several deficiencies.
The apex court-appointed panel of lawyers on February 20 informed it that negotiations between Rathore and the developer were nearing completion and the draft of settlement has been exchanged by the parties.
A two-member committee of lawyers was appointed by the court to look into Rathore's allegations that the flat given to him by the developer was uninhabitable.
The apex court had on December 14 last year asked Rathore to sit with the representatives of the builder and settle the dispute amicably. It had also asked the realty firm to remove deficiencies in the flat as pointed out by Rathore and the SC-appointed panel, which had visited the site, and hand it over to the minister.
Rathore had booked the flat in 2006 by paying around Rs 70 lakh for it. The firm had promised to deliver the flat in 2008-09.
The National Consumer Disputes Redressal Commission had earlier directed the builder to refund the principal amount with interest and compensate Rathore.
The apex court had on October 21 last year directed Parsvnath Developers to hand over possession of the flat to Rathore in two days, saying he should not pay any additional amount to the builder.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)