#Development Agreements

Bombay High Court clarifies that a society must deposit the petitioner's full share of the corpus fund, including accumulated 6% interest from the due date, under a DRAT order. The ruling rejects the society's attempt to limit deposit to the first installment, reinforcing strict compliance with tribunal directives in property disputes.

Bombay High Court reinforces that a memorandum of understanding (MOU) for redevelopment lacks binding force unless followed by a final Development Agreement and government NOC. The ruling underscores the limited judicial scrutiny under Section 34 of the Arbitration Act, offering clarity for developers and housing societies in contract disputes.