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In Big Win For Homebuyers, Top Court Okays 22 Police Cases Against Builders

The Central Bureau of Investigation has received green signal from the Supreme Court to file 22 cases involving the nexus between the banks and developers to dupe homebuyers in National Capital region. The cases can involve prominent builders in the zone. The agency has also sought more time to investigate builders of other cities. Additional Solicitor General Aishwarya Bhati, appearing for CBI, told the bench of Justices Suryakant and N Koteshwar Singh that more time is needed to complete the investigation. The bench gave it six weeks, expressing satisfaction over the investigation done by CBI. The court was hearing a batch of petitions filed by over 1,200 homebuyers, who booked flats under subvention plans in various housing projects in the NCR. They have alleged that the banks are forcing them to pay EMIs even though they have not received possession of flats. Under the subvention scheme, banks disburse the sanctioned amount directly to the accounts of builders. They pay EMIs unt...
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In Big Win For Homebuyers, Top Court Okays 22 Police Cases Against Builders

The Central Bureau of Investigation has received green signal from the Supreme Court to file 22 cases involving the nexus between the banks and developers to dupe homebuyers in National Capital region. The cases can involve prominent builders in the zone. The agency has also sought more time to investigate builders of other cities.

Additional Solicitor General Aishwarya Bhati, appearing for CBI, told the bench of Justices Suryakant and N Koteshwar Singh that more time is needed to complete the investigation. The bench gave it six weeks, expressing satisfaction over the investigation done by CBI.

The court was hearing a batch of petitions filed by over 1,200 homebuyers, who booked flats under subvention plans in various housing projects in the NCR. They have alleged that the banks are forcing them to pay EMIs even though they have not received possession of flats.

Under the subvention scheme, banks disburse the sanctioned amount directly to the accounts of builders. They pay EMIs until the flats are handed over to homebuyers. But the builders have defaulted on EMIs, and in line with the tripartite agreement, banks are now demanding that the homebuyers pay the EMIs.

In July last year, the Supreme Court had directed that no coercive action can be taken against homebuyers by banks or builders over non-payment of EMIs and no complaint against them will be entertained in cases of cheque bounce. But a group of lawyers told the court that lower courts, especially in Gurgaon, were still passing harsh orders against homebuyers.

The court has asked the District and Sessions Judge of Gurgaon to investigate and submit a report within 10 days.
 



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