The application was filed by 127 applicants, who are allottees in a project to be developed by the Corporate Debtor (CD). The applicants had paid substantial amounts towards the purchase of flats in that project. The CD failed to deliver the promised flats against the money paid.
The Corporate Debtor (CD) entered into Memoranda of Understanding (MoUs) with various home buyers, including the Applicants, for the construction of a high-rise residential complex named Sahiti Sarvani Elite at Ameerpet, Hyderabad, between 2019 and 2021.
The applicant home buyers, totaling 127, paid amounts ranging from Rs 22,30,000 to Rs 77,43,150 towards the allotment of flats.
The CD was expected to obtain the requisite permissions for construction by 31.12.2021, but failed to do so.
The total amount claimed by the joint applicants is Rs 46,68,31,257, along with interest of Rs 22,54,32,739, totaling Rs 69,22,63,996.
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Letter of Undertaking issued on behalf of…
The CD was expected to obtain the requisite…
The application was filed by 127 applicants, who are allottees in a project to be developed by the Corporate Debtor (CD). The applicants had paid substantial amounts towards the purchase of flats in that project. The CD failed to deliver the promised flats against the money paid.
The Corporate Debtor (CD) entered into Memoranda of Understanding (MoUs) with various home buyers, including the Applicants, for the construction of a high-rise residential complex named Sahiti Sarvani Elite at Ameerpet, Hyderabad, between 2019 and 2021.
The applicant home buyers, totaling 127, paid amounts ranging from Rs 22,30,000 to Rs 77,43,150 towards the allotment of flats.
The CD was expected to obtain the requisite permissions for construction by 31.12.2021, but failed to do so.
The total amount claimed by the joint applicants is Rs 46,68,31,257, along with interest of Rs 22,54,32,739, totaling Rs 69,22,63,996.
…Letter of Undertaking issued on behalf of…
The CD was expected to obtain the requisite…