Delhi High Court asks builders to deposit 50% of profiteered amount

The Delhi High Court has asked two real estate companies to deposit 50 per cent of the alleged profiteered amount in separate funds, and stayed the order of the National Anti-profiteering Authority (NAA) till the final ruling.

“The petitioner is directed to deposit 50 per cent of the principal profiteered amount. The said amount shall be deposited in two equal monthly installments,” said the court in one of the orders.

The court also ordered that the deposit be kept in interest bearing fixed deposit receipts.

The cases involve two builders whose projects are based in Noida and Gurugram. 

The NAA has imposed a penalty