North India Statesman
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New Delhi: The Supreme Court has taken a tough stand against the hard -working builders who grab millions of rupees of hard work of poor and middle class people. Whether it is Noida or Gurugram, around Delhi, the number of builders who cheated the poor by cheating the poor and not giving flats in return have increased. As soon as the case reached the Supreme Court, the bench indicated that the entire investigation would be handed over to the CBI. Expressing concern over the alleged nexus between banks and builders, the Supreme Court made strict remarks and said that the whole system is upset, thousands of people are crying, this plight of the poor is looking at the Supreme Court every day.
The landlords of the region appealed to the Supreme Court complaining that they were not given possession of flats due to delay by builders and developers. He also said that he has not received a flat and on the other hand he has taken a loan of lakhs of rupees and the banks are pressurizing them to repay EMI. Justice Suryakanth, who is hearing the case hearing the case, said that we will not consider any institution to be good or bad, we will definitely investigate the case with the CBI, thousands of people are crying, we cannot wipe their tears but can decide on their matters, very effective steps need to be taken in a timely manner. In this case, we have a policy of not tolerating at all, even if the criminals are hidden inside the ground, we will find them there too.
Earlier in July 2024, the Supreme Court ordered the historic verdict that no punitive action should be taken against those who have not received their flats in the National Capital Region (NCR) and EMI recovery from them. Landlords allege that RBI guidelines are also being violated and the loan amount is being deposited directly in the accounts of builders and developers. There have also been allegations that home buyers were used as a medium to approve the loan and when the house buyers complained about it, the banks started action against them. Justice Suryakant of the Supreme Court said that we do not consider any bank beyond suspicion, we have seen the methods of their functioning. There are many people in this case who have not got possession of their house even after 10 or 15 years.
Senior advocate Abhishek Manu Singhvi, appearing on behalf of the petitioners, argued that if a builder becomes bankrupt, it is also considered to be the fault of the house buyer. In response, Judge Suryakant said that your mistake is that you released 60 per cent of the amount when the developer or builder did not even place a brick on the site. How is this possible without any transaction? Later, advocate Singhvi suggested that banks could stop taking interest until they get possession of the house, although the judge rejected the argument saying that it would not solve big issues, the disease that causes the entire system to suffer. Millions of people, the Supreme Court, have to see the plight of the poor every day. We want to reach its root. We will not accept it at all. Rebusing the Noida Authority, the Supreme Court said that the authority is only worried about recovering its money, what is the thousands of people who are forced to live in a rented house despite buying a house. Companies to be bankrupt in 10 years include Amrapali Group, Ansle API, Unitech, JP Infratech, Supertech, 3C Company, Parshwanath Developers, HDIL etc. The Supreme Court has now indicated a CBI inquiry into the case.
