Bombay Dyeing has breached section 12 & 18 of RERA act:
MREAT
Bombay Dyeing and Manufacturing Co Ltd, the promoters of the
project called 'Island City Centre' at Spring Mills
Compound in Wadala immediately filed appeals before the Bombay high
court to challenge the correctness of the Tribunal's
findings.
MUMBAI: In a significant order,
Maharashtra Real Estate Appellate Tribunal held that section 12
of
Rera that deals with 'obligations of promoter regarding
veracity of the advertisement' and permits "affected'
buyers to withdraw from a project with refund of amount paid, would
apply "retroactively'' in ongoing projects even when
agreements for sale were transacted much prior to the Act coming
into force.
