Twenty-eight residents of the upscale Signia Pearl in Bandra Kurla Complex have moved National Company Law Tribunal (NCLT) against Starlight Systems, an arm of Sunteck Realty, for not having refunded an excessive amount towards maintenance/corpus and management charges to the tune of ₹7.65 crore.

Under the agreement for sale, the developer is supposed to transfer the unutilised amount to each of the apartment buyers through the housing society.

The amount collected was far in excess of the required sum and upon formation of the society on September 4, 2020, the same amount became due which was not repaid by the Corporate Debtor (Skylight Systems),” reads the petition for corporate insolvency resolution process copy.