Moongipa Realty PVT LTD. (Formerly Axayraj Buildwell PVT LTD.)Mumbai vs. Shekhar Rajan Prasad

Held

The Court held that the Second Appeals, along with the Interim Applications, should be disposed of in terms of the Consent Terms filed by the Appellant and Respondent. The Consent Terms, which were signed by authorized representatives of both parties and confirmed in court, represent a full and final settlement of all disputes arising from the Agreements for Sale and related proceedings before MahaRERA and the Appellate Tribunal. The Court accepted the undertakings given by both parties as recorded in the Consent Terms. Specifically, the Court noted that upon the Appellant complying with Clause 3(b) of the Consent Terms (regarding executing necessary agreements with a third party for certain shops), the impugned orders of MahaRERA and the Appellate Tribunal would stand substituted by the order in terms of the Consent Terms. The Court also accepted the affidavit of Mr. Jitendra Dewoolkar regarding the cancellation of allotment of certain shops. No reasons were required for the disposal in terms of the Consent Terms.

Facts

The case involves a dispute between Moongipa Realty Pvt. Ltd. (Appellant) and Shekhar Rajan Prasad (Respondent) concerning seven Agreements for Sale dated January 24, 2013, for seven shops in Moongipa Arcade. The total consideration was Rs. 2,83,84,000. The Respondent alleged paying Rs. 1,14,33,600 including taxes, while the Appellant claimed Rs. 1,12,33,600 excluding taxes. Disputes arose due to project delays, leading the Respondent to file complaints before MahaRERA. MahaRERA directed the Appellant to pay interest and not modify plans without following RERA Section 14. The Appellate Tribunal partially modified this order. The Appellant filed Second Appeals before the High Court challenging the Appellate Tribunal's order. During pendency, the Respondent filed execution applications. The parties have now filed Consent Terms to resolve all disputes.

Key Issues

1. Whether the Second Appeals should be disposed of in terms of the Consent Terms filed by the Appellant and Respondent, considering the mutual agreement to resolve all disputes arising from the Agreements for Sale and related proceedings. Arguments: Appellant/Applicant: Submitted that the parties have arrived at a comprehensive settlement through Consent Terms, which have been duly executed and confirmed by authorized representatives. They seek disposal of the Second Appeals in accordance with these terms, which represent a full and final settlement of all claims. Respondent: Concurred with the Appellant, tendering the Consent Terms and confirming their agreement to the terms and conditions outlined therein. They seek the disposal of the appeals as per the settlement. No specific GST provisions were directly argued or debated as the matter was resolved through consent terms addressing contractual obligations and dispute resolution.