The petitioner, Rajan Garg, acting as the Resolution Professional (RP) for Truly Creative Developers Pvt Ltd, filed a writ petition seeking to stay an acquisition process initiated under the Slum Rehabilitation Act, 1995. Truly Creative, a corporate developer, had failed to implement a slum redevelopment scheme despite being issued a Letter of Intent (LoI) as early as 1995 and a revised LoI in 2003. The developer's appointment was eventually terminated by an order of the Apex Grievance Redressal Committee (AGRC) on 25th October 2019, due to its consistent failure to perform and allegations of illegalities, including trafficking in rehab tenements.
…Rajan Garg, the Resolution Professional (RP) for Truly Creative Developers Pvt Ltd, filed a writ petition seeking to stay an acquisition process under the Slum Rehabilitation Act, 1995. The developer, Truly Creative, is described as a corporate entity with a history of failing to perform in multiple projects, leading to allegations of illegalities.
The plot in question, CTS Nos 87, 87/1 to 87/3 of Village Magathane, Taluka Borivali (East), spans over 14,000 sq mts. Truly Creative purchased this plot on 21st March 1997, but its name is not yet on the property card. A Letter of Intent (LoI) for slum redevelopment was issued to the developer even before it became the owner, on 5th December 1995.
…A Letter of Intent (LoI) for slum redevelopment…
Truly Creative…
The petitioner, Rajan Garg, acting as the Resolution Professional (RP) for Truly Creative Developers Pvt Ltd, filed a writ petition seeking to stay an acquisition process initiated under the Slum Rehabilitation Act, 1995. Truly Creative, a corporate developer, had failed to implement a slum redevelopment scheme despite being issued a Letter of Intent (LoI) as early as 1995 and a revised LoI in 2003. The developer's appointment was eventually terminated by an order of the Apex Grievance Redressal Committee (AGRC) on 25th October 2019, due to its consistent failure to perform and allegations of illegalities, including trafficking in rehab tenements.
…Rajan Garg, the Resolution Professional (RP) for Truly Creative Developers Pvt Ltd, filed a writ petition seeking to stay an acquisition process under the Slum Rehabilitation Act, 1995. The developer, Truly Creative, is described as a corporate entity with a history of failing to perform in multiple projects, leading to allegations of illegalities.
The plot in question, CTS Nos 87, 87/1 to 87/3 of Village Magathane, Taluka Borivali (East), spans over 14,000 sq mts. Truly Creative purchased this plot on 21st March 1997, but its name is not yet on the property card. A Letter of Intent (LoI) for slum redevelopment was issued to the developer even before it became the owner, on 5th December 1995.
…A Letter of Intent (LoI) for slum redevelopment…
Truly Creative…