Several writ petitions were filed by home buyers against the State of Uttar Pradesh and Jaiprakash Associates Ltd (Builder-Respondent no.3) concerning delays in the completion and possession of residential flats in the 'Knights Court' project in Noida. The petitioners had filed complaints with the Uttar Pradesh Real Estate Regulatory Authority (UPRERA), which were allowed with directions to the builder to handover possession or refund the deposited amount with interest. The builder failed to comply, leading to the issuance of recovery certificates by UPRERA. An agreement was later entered into between the builder and the Association of Home Buyers for project completion. Subsequently, insolvency proceedings were initiated against the builder, and a Resolution
…Home buyers were allotted residential flats in the 'Knights Court' project developed by Jaiprakash Associates Ltd. Due to delays, they filed complaints with UPRERA, which directed the builder to handover possession or refund the amount with interest. The builder failed to comply, leading to recovery certificates. An agreement was made between the builder and the Association of Home Buyers for project completion. Later, insolvency proceedings were initiated against the builder, and an RP was appointed. The home buyers submitted claims in the insolvency process, seeking possession. They challenged UPRERA orders directing refund and decisions of the COC, arguing they never sought a refund. The RP refused to offer possession. The UPRERA order was passed on 6.5.2019,
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UPRERA directed the builder to handover…
UPRERA issued recovery…
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Several writ petitions were filed by home buyers against the State of Uttar Pradesh and Jaiprakash Associates Ltd (Builder-Respondent no.3) concerning delays in the completion and possession of residential flats in the 'Knights Court' project in Noida. The petitioners had filed complaints with the Uttar Pradesh Real Estate Regulatory Authority (UPRERA), which were allowed with directions to the builder to handover possession or refund the deposited amount with interest. The builder failed to comply, leading to the issuance of recovery certificates by UPRERA. An agreement was later entered into between the builder and the Association of Home Buyers for project completion. Subsequently, insolvency proceedings were initiated against the builder, and a Resolution
…Home buyers were allotted residential flats in the 'Knights Court' project developed by Jaiprakash Associates Ltd. Due to delays, they filed complaints with UPRERA, which directed the builder to handover possession or refund the amount with interest. The builder failed to comply, leading to recovery certificates. An agreement was made between the builder and the Association of Home Buyers for project completion. Later, insolvency proceedings were initiated against the builder, and an RP was appointed. The home buyers submitted claims in the insolvency process, seeking possession. They challenged UPRERA orders directing refund and decisions of the COC, arguing they never sought a refund. The RP refused to offer possession. The UPRERA order was passed on 6.5.2019,
…UPRERA directed the builder to handover…
UPRERA issued recovery…
Sign in to view related legal provisions.