Authority: Supreme Court of India
Order Date: 03-09-2026
Case Overview
- Appellant: Granite Gate Properties Private Limited, represented by authorised representative Ms. Rakesh Verma.
- Respondent: New Okhla Industrial Development Authority (NOIDA) and others.
- Civil Appeal No.3132/2026 was filed challenging penalty charges imposed by NOIDA on homebuyers and the SRA for project delays.
- Parallel Civil Appeal No.4207/2026 sought extension of time‑related charges beyond the statutory three‑year limit up to ten years.
- The matter was heard by a two‑judge bench comprising Hon. Justice J.B. Pardiwala and Hon. Justice K. Vinod Chandran.
- The court examined whether the penalty was valid, noting that the delay was not attributable to the homebuyers or the SRA but to the corporate debtor.
Final Outcome
- The Supreme Court allowed Civil Appeal No.3132/2026, thereby setting aside NOIDA’s penalty order and directing that the penalty be waived for the homebuyers and the SRA.
- The court modified the impugned order, rejecting NOIDA’s request to treat time‑extension charges as CIRP costs and refusing the appeal for extending such charges beyond three years up to ten years.
- Civil Appeal No.4207/2026 was dismissed.
- All pending applications, if any, were disposed of.
Topics: Penalty Waiver, Real Estate Litigation