Umesh Joshi and Co-Appellant Withdraw Appeal, Settle with Sheth Infraworld P. Ltd.
Real estate dispute between Umesh Joshi and co-appellant and Sheth Infraworld P. Ltd. ends with withdrawal of appeal and settlement agreement. Positive example of amicable settlements in resolving legal disputes. #realestate #legaldispute #settlementagreement
A longstanding real estate dispute between Mr. Umesh Joshi and another co-appellant and Sheth Infraworld P. Ltd. has come to an end with the withdrawal of their appeal and a settlement agreement between the parties. The Maharashtra Real Estate Appellate Tribunal in Mumbai disposed of the appeal on May 4, 2023, based on the application to withdraw the appeal and the parties' submission that they had reached an amicable settlement.
Background of the Case
The case before the appellate tribunal involved a dispute over possession of a subject flat. Mr. Umesh Joshi and the other co-appellant had claimed that the respondent, Sheth Infraworld P. Ltd., had failed to deliver possession of the flat as per the agreement between the parties. They had therefore filed an appeal before the Maharashtra Real Estate Regulatory Authority, which had been transferred to the appellate tribunal.
The parties had been involved in a legal battle for some time, with the matter finally coming to a close with the withdrawal of the appeal and a settlement agreement.
Settlement Agreement Reached
According to the submission made by the appellants, they had reached an amicable settlement with the respondent, Sheth Infraworld P. Ltd. As part of the settlement agreement, they had received possession of the subject flat on February 18, 2023, and had no grievance against the promoter.
The appellants signed an application to withdraw their appeal, which was accepted by the appellate tribunal, resulting in the appeal being disposed of. Any pending miscellaneous applications were also disposed of as part of the order.
Implications of the Settlement
The settlement agreement reached between the parties brings an end to a long-drawn legal battle and allows both parties to move forward. The appellants have received possession of the subject flat, and the respondent has avoided further legal proceedings and the associated costs.
The settlement agreement also highlights the importance of amicable settlements in legal disputes, particularly in the real estate sector, where disputes can often drag on for years. The Maharashtra Real Estate Regulatory Authority and the appellate tribunal have been pushing for a more conciliatory approach to resolving disputes, and this settlement agreement is a positive example of such an approach.
Conclusion The withdrawal of the appeal and the settlement agreement reached between the parties bring an end to a longstanding legal battle and allow both parties to move forward. The Maharashtra Real Estate Appellate Tribunal's acceptance of the application to withdraw the appeal and the disposal of any pending miscellaneous applications underscores the importance of amicable settlements in resolving disputes, particularly in the real estate sector. The parties' submission that they had reached an amicable settlement and their willingness to sign the application to withdraw the appeal are positive signs that such settlements can be reached with the right approach and mindset.
Note: The information provided in this article about Maharashtra Real Estate Regulatory Authority (MahaRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.
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