THE Bombay High Court recently upheld the Maharashtra Real Estate Regulatory Authority (MahaRERA) and MahaRERA Appellate Tribunal order and directed an errant developer from Mumbai to refund the booking amount to a couple who failed to get a housing loan and opted out of the project as a result. The tribunal had ordered the developer to refund the amount plus interest calculated from the time of booking in 2019.
The Bombay High Court also levied a cost of R1 lakh (to be paid to the respondent) on the errant developer in driving the respondents (flat buyers) to unnecessary litigation before the appellate tribunal and now before the high court.  

The case: