Karnataka HC отменяет штрафы Регулятора недвижимости
BENGALURU: The High Court has annulled a circular issued by the Real Estate Regulatory Authority (RERA) of Karnataka on September 3, 2020, due to lack of legislative authority. The circular aimed to retrospectively impose a “delay fee” for late submissions of quarterly updates and annual audit statements. This circular required builders, developers, and promoters to submit quarterly updates and annual audit statements as per Section 7 of the Real Estate (Regulation and Development) Act, 2016. The petitioners contended that while the Act mandates obligations for promoters, it does not empower the authority to enforce delay fees. They argued that delays…