Rate of Interest held to be same for builder and buyer in case of default: SC

Ashoka Investment Co. Vs United Towers India (Pvt.) Ltd. (Supreme Court of India) Conclusion: In present facts of the case, the Hon’ble Supreme Court held that the builder should also pay interest for it’s default to the buyer at the same rate (18% in this case), which is collected by him on default of the buyer as per agreement. Facts: In present facts, the Appeal has been under Section 23 of the Consumer Protection Act, 1986 against the order dated 16.03.2015 passed by the National Consumer Disputes Redressal Commission. By the said order, the NCDRC directed the respondents to refund a...