SC stays NCDRC's 12% interest penalty on Unitech

Unitech, represented by former Finance Minister P. Chidambaram, appealed at the Supreme Court of India against the National Consumers‘ Disputes Redressal Commission (NCDRC)' landmark verdict and got an interim stay order.

August 20, 2015 / 21:45 IST

26 Aug, 2025 12:21

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In what has come as temporary relief for realty major Unitech, the Apex Consumer Court has stayed an order that directed the company to pay its buyers the highest ever penalty for a project delay.

Unitech, represented by former Finance Minister P Chidambaram, appealed at the Supreme Court of India against the National Consumers’ Disputes Redressal Commission (NCDRC) landmark verdict and got an interim stay order. The company would have had to pay 12 percent interest or a lumpsum of Rs 8-12 lakh to each of the buyers and Rs 40000-50000 every month thereafter till possession.

first published: Aug 20, 2015 09:45 pm

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