In one case, over a 100 home buyers had filed an application against Pyramid Infratech for not passing on the Input Tax Credit (ITC) of the GST paid on construction services. The National Anti-profiteering Authority (NAA) directed the company to refund or reduce Rs 8.22 crore from the buyers’ last installment along with 18% interest per annum to be calculated from the date of the receipt of the excess amount from each buyer. The builder has since moved Delhi High Court.
Author: Legal Advice Guru
Query: I had taken a loan of ₹ 5 lakhs from a private financer. At the time of advancing loan, the financer had also obtained security cheques from me. Although, the loan amount with interest has been repaid, but the financer did not return the security cheques. He misused the same by filing a false case under Negotiable Instruments Act. How should, I defend myself.