SC asks Centre to bring ‘uniform’ proposal for Jaypee homebuyers

SC asks Centre to bring ‘uniform’ proposal for Jaypee homebuyers
10/07/2019 , by , in News/Views

The Supreme Court has asked the Centre to come out with a “uniform” proposal for all cases to resolve the difficulties being faced by lakhs of homebuyers who have not yet got possession of flats despite paying huge amounts of money to real estate builders.

The apex court, which was hearing a homebuyers matter related to Jaypee Infratech Ltd, said the issue concerns lakhs of flat buyers and the Centre should give a proposal to resolve it.

“We want suggestions from the Union of India which could be uniform for all such cases,” a bench comprising justices A M Khanwilkar and Dinesh Maheshwari said. Also read http://realtyplusmag.com/cag-questions-noida-authority-over-20-builder-projects/

“This issue will be bothering lakhs of homebuyers. Within the IBC (Insolvency and Bankruptcy Code), we cannot do anything. But outside it, you (Centre) can suggest something. We can consider that,” the bench told Additional Solicitor General (ASG+) Madhavi Divan, who was appearing for the Centre.

The bench made the observation while hearing a plea which has sought that Jaypee Infratech Ltd (JIL) be not sent into liquidation, although the deadline for the corporate inlpsolvency resolution process is over, as it would cause “irreparable loss” to thousands of home buyers.

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