SC gives last chance to Unitech home buyers seeking refunds to reconsider decision
IANS 18 August 2021
The Supreme Court on Tuesday said that over 1,000 home buyers, who have opted for refund from Unitech Ltd, will be given 30 days to reconsider their decision and take possession of the flats.
A bench of Justices D.Y. Chandrachud and M.R. Shah told amicus curiae, advocate Pawanshree Agrawal, to open the web portal for 30 days, to enable 1,197 home buyers, who have opted for refund, one last chance to reconsider their decision. In December 2019, the portal was closed for registration.
The bench said that home buyers, who have opted for refunds due to delay and uncertainty over the possession of their flats, should be given one final opportunity to reconsider their decision.
It also directed Unitech's new management to prioritise the category of home buyers, who are seeking refunds after taking into consideration the status of the housing project.
The bench noted some home buyers have got their principal amount refunded but haven't submitted their title deeds and the no objection certificate, and gave them a final opportunity of 30 days to submit their documents to the new management. This would allow their flat to be considered in the category of unsold inventory.
The Enforcement Directorate informed the top court that it has attached properties worth Rs 650 crore of Unitech group in connection with the money laundering charges against it and others. It submitted that out of Rs 650 crore, Rs 450 crore is recoverable. The bench said it will take up the ED's status report on Wednesday.
Additional Solicitor General K.M. Nataraj, representing the Delhi Police, submitted 66 FIRs have been registered so far, of which charges are to be framed in 64 and in two FIRs, the investigation is pending.
The bench sought a status report on the cases pending against office bearers of the old management of the Unitech Ltd.
Counsel for the new management informed the top court that it has prepared a resolution plan under which three categories have been made depending on the stage of the project, and those in an advanced stage would be completed first.
The top court on June 4, granted 15 day interim bail to Unitech's former promoter Sanjay Chandra to attend the last rites of his father-in-law after which he surrendered. Both Sanjay and his brother Ajay are accused of allegedly siphoning homebuyers' money. In October 2017, the top court had asked them to deposit Rs 750 crore with the apex court registry by December 31, 2017.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
1 month ago
When will Fixed Deposit holders get back deposit & interest?
1 month ago
When will Fixed Deposit holders get back deposit & interest?
C&C Towers Investors Allege Fraud; HC Judge Issues Notice
Moneylife Digital Team 16 August 2021
The Delhi High Court has issued notices to 12, including Union government and C&C Towers Ltd, in a writ petition filed by 94 financial creditors of the company. 
In her order issued last week, justice Rekha Palli...
Unity amongst Home-buyers Is Important in Insolvency Cases
Moneylife Digital Team 16 August 2021
"Although cases, where home-buyers are left in the lurch due to developers filing for bankruptcy, might seem like the end, such cases can be resolved through a clear understanding and consensus among the affected...
Why create posts...'': SC slams states on consumer panel vacancies
IANS 11 August 2021
The Supreme Court on Wednesday took strong objection at vacancies in state consumer disputes redressal commissions, saying that the states are defeating laws enacted for welfare of people.
What is purpose of creating posts...
Free Helpline
Legal Credit