The Supreme Court by its judgment in the case of Unitech helped in providing relief to the aggrieved home buyers. It directed the firm to construct 514 flats in its five projects out of the funds which has been obtained after auctioning the Kolkata property. The auction was held under supervision of the committee which was headed by Justice S N Dhingra, a former judge of Delhi High Court. The property was auctioned at Rs. 116.95 crores and only Rs. 28.89 crores have been received till now.
The Court further ordered that the amount should be deposited by demand draft before the Registry of the Court which in return would deposit it in a short term fixed deposit at the UCO bank. The counsel appointed as amicus curiae by the court assured that the balance amount would be deposited within a week. He further highlighted the fact that the court ordered the construction of 514 flats after keeping certain amount for them and delivered to the home buyers. The expert committee separated the five projects of Unitech for which flats are to be constructed.
In the light of the above circumstances, the bench held-
- That the amount of Rs. 21 crores to be transferred by the Registry of the SC to Unitech Escrow account which has been opened by the Chairman of the Committee.
- That the allocation of funds and construction should be under the supervision of Justice S N Dhingra Committee.
- That the construction has to be carried out within a specified time frame which has been pre-decided by the Unitech with regard to the projects.
In an another case relating to Unitech, the SC asked the local authority in Uttar Pradesh to deposit the amount received from the firm with the registry to refund those who have opted out from the housing schemes.
Courtesy/By: Kritika Mehandiratta
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12 Sep 2018
