The appeal arises from the rejection by the National Consumer Disputes Redressal Commission (NCDRC) of a prayer made in IA No. 12469 of 2018 in Consumer Case No. 1474 of 2017. The prayer sought the appointment of an independent auditor to monitor the usage of funds paid by the allottees of the IREO Five River Project and to submit a report on the funds' usage, particularly where no construction had been done on site. The NCDRC deemed itself incompetent to grant such a prayer under Section 14 of the Consumer Protection Act, and this assessment is challenged in the present appeal.
The National Consumer Disputes Redressal Commission (NCDRC) rejected a prayer for the appointment of an independent auditor to monitor the funds of the IREO Five River Project. The NCDRC cited its lack of competence under Section 14 of the Consumer Protection Act. During the appeal process, a Company Petition No.(IB)-408(ND)/2018 was filed against IREO Five River Private Ltd. before the NCLT, which admitted the petition and appointed Mr. Kanwal Chaudhary as the Interim Resolution Professional (IRP). The IRP collected data on 261 creditors and initiated a financial audit of the company. The allottees of the IREO Five River Project were concerned about the usage of their funds, as no construction had been done on site.
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The appeal arises from the rejection by the National Consumer Disputes Redressal Commission (NCDRC) of a prayer made in IA No. 12469 of 2018 in Consumer Case No. 1474 of 2017. The prayer sought the appointment of an independent auditor to monitor the usage of funds paid by the allottees of the IREO Five River Project and to submit a report on the funds' usage, particularly where no construction had been done on site. The NCDRC deemed itself incompetent to grant such a prayer under Section 14 of the Consumer Protection Act, and this assessment is challenged in the present appeal.
The National Consumer Disputes Redressal Commission (NCDRC) rejected a prayer for the appointment of an independent auditor to monitor the funds of the IREO Five River Project. The NCDRC cited its lack of competence under Section 14 of the Consumer Protection Act. During the appeal process, a Company Petition No.(IB)-408(ND)/2018 was filed against IREO Five River Private Ltd. before the NCLT, which admitted the petition and appointed Mr. Kanwal Chaudhary as the Interim Resolution Professional (IRP). The IRP collected data on 261 creditors and initiated a financial audit of the company. The allottees of the IREO Five River Project were concerned about the usage of their funds, as no construction had been done on site.
Prayer made to the National Consumer…
Consumer case filed…
Sign in to view related legal provisions.