In a recent landmark ruling of the Hon’ble Bombay High Court (“BHC”) in the matter of Wadhwa Group Housing Private Limited (“Appellant”) vs. Vijay Choksi and Ors., it has been inter-alia held that a promoter of a joint development project, who has not received any consideration from the allottee of an apartment coming to the share of another promoter, is jointly obligated to refund that consideration with interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016 (“RERA Act”). The Hon’ble Supreme Court has vide its order dated April 8, 2024 declined to entertain a special leave petition which was filed by the Appellant challenging the aforesaid judgement of the BHC.Continue Reading Promoter’s Liability for Joint Development Projects: Consideration Received by one cannot absolve the other from joint liability to refund