NOIDA: A gaggle of homebuyers has moved a writ petition within the Supreme Court in opposition to beleaguered real property company Amrapali, looking for that their financial and criminal rights be secured.
The team of buyers, Noida Extension Flat Owners' Welfare Association (Nefowa), has discussed in its petition several initiatives of the Amrapali Group — Ultra Homes, Golf Homes, Verona Heights (which contains Adarsh Awas Yojna), Centurion Park, Dream Valley and Leisure Park — and appealed that they be offered the standing of "creditors" within the company's accounts.
The appeal, which used to be admitted on Monday, has been listed for hearing on Wednesday. The buyers stated they felt the need to move the apex court docket as the gang had failed to pay off debts for one in every of its initiatives in Sector 76.
"With insolvency proceedings already in place against the company for a particular project, we appealed in the Supreme Court that buyers' rights in all the other projects be secured," stated Abhishek Kumar, the president of Nefowa.
The petition mentions all of the initiatives that the company has undertaken over the past three hundred and sixty five days. The house buyers appealed that they be handled as "secured financial creditors" in case a state of affairs of economic answer arose in opposition to Amrapali.
The petitioners have also sought instructions to the Uttar Pradesh govt to enforce the Project Settlement Policy to complete initiatives, restrain Amrapali from selling any of its homes without the permission of the court docket, appoint a tracking committee to oversee the of entirety of a mission and handing over the flats to buyers, offer compensation for delaying possession, no payment of EMI till possession and in case the flat isn't passed over, the original quantity be returned to the buyers with 24% .
The buyers have also pleaded that a government company like NBCC or Hudco be introduced for the timely of entirety of the initiatives.
Told concerning the petition within the apex court docket, Amrapali govt director Shiv Priya stated, "We want to assure the buyers that we have secured financiers for the completion of our flats. There are 25,000 apartments that need to be completed and we are in need of Rs 3,500 crore. We will present these proposals before the Supreme Court."
The team of buyers, Noida Extension Flat Owners' Welfare Association (Nefowa), has discussed in its petition several initiatives of the Amrapali Group — Ultra Homes, Golf Homes, Verona Heights (which contains Adarsh Awas Yojna), Centurion Park, Dream Valley and Leisure Park — and appealed that they be offered the standing of "creditors" within the company's accounts.
The appeal, which used to be admitted on Monday, has been listed for hearing on Wednesday. The buyers stated they felt the need to move the apex court docket as the gang had failed to pay off debts for one in every of its initiatives in Sector 76.
"With insolvency proceedings already in place against the company for a particular project, we appealed in the Supreme Court that buyers' rights in all the other projects be secured," stated Abhishek Kumar, the president of Nefowa.
The petition mentions all of the initiatives that the company has undertaken over the past three hundred and sixty five days. The house buyers appealed that they be handled as "secured financial creditors" in case a state of affairs of economic answer arose in opposition to Amrapali.
The petitioners have also sought instructions to the Uttar Pradesh govt to enforce the Project Settlement Policy to complete initiatives, restrain Amrapali from selling any of its homes without the permission of the court docket, appoint a tracking committee to oversee the of entirety of a mission and handing over the flats to buyers, offer compensation for delaying possession, no payment of EMI till possession and in case the flat isn't passed over, the original quantity be returned to the buyers with 24% .
The buyers have also pleaded that a government company like NBCC or Hudco be introduced for the timely of entirety of the initiatives.
Told concerning the petition within the apex court docket, Amrapali govt director Shiv Priya stated, "We want to assure the buyers that we have secured financiers for the completion of our flats. There are 25,000 apartments that need to be completed and we are in need of Rs 3,500 crore. We will present these proposals before the Supreme Court."
Amrapali buyers move SC for rights
![Amrapali buyers move SC for rights]()
Reviewed by Kailash
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January 17, 2018
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