Supreme Court orders refund 158 Home Buyers
The Home Buyers of the real estate firm Unitech Limited had moved the National Consumers Dispute Redressal Commission and also the Real Estate Regulatory Authorities (RERA) to get a refund order against the Managing Director. Based on the order, in turn, the Unitech Limited moved the Supreme Court.
The Apex Court ordered the refund of money to the Home Buyers on a proportionate basis.
The Court has further ordered that the auction of the properties of the firm will continue till the Home Buyers get back their refund. Further the firm is directed to present a list of all properties of the firm, its subsidieries not leaving the personal properties of the directors of the firm. Justice Dhingra Committee is given the power of auctioning the properties.
The Court has also asked the firm a status report on the progress of projects and also a plan of action to complete the pending work.
The Court refused the request of managing director to provide him a custody parole in the criminal case moved against.
Dr Gubbi S Subba Rao
Counselor & Advocate