This case involves multiple interlocutory applications (I.A.s) related to the Amrapali Group of Companies' real estate projects. The applications address issues such as seeking directions for NBCC (India) Ltd. to complete projects, modification of orders related to repayment by Royalgolf Link City Projects Private Limited, release of Floor Area Ratio (FAR) to Noida and Greater Noida Authorities, and deletion of Vansh Consultants Private Limited's name from a forensic audit report. The core issue revolves around stalled real estate projects, financial irregularities, and the plight of home buyers who have invested in these projects.
The Amrapali Group of Companies' real estate projects have been stalled for several years, leaving home buyers in a precarious situation. NBCC (India) Ltd. was appointed to complete the incomplete projects. Royalgolf Link City Projects Private Limited was directed to repay a sum of Rs.48.52 crores with 12% interest. Noida and Greater Noida Authorities sought the release of FAR to recover their dues. Vansh Consultants Private Limited sought the deletion of its name from a forensic audit report, claiming it was wrongly identified as a debtor. The real estate sector is facing financial distress, exacerbated by the COVID-19 pandemic. Home buyers have obtained loans but cannot enjoy the fruits of their investment. Noida and Greater Noida Authorities have not been issuing
…Sign in to view the parties.
Writ Petiti…
Reference to a judgment dated 23.7.2019 is made…
This case involves multiple interlocutory applications (I.A.s) related to the Amrapali Group of Companies' real estate projects. The applications address issues such as seeking directions for NBCC (India) Ltd. to complete projects, modification of orders related to repayment by Royalgolf Link City Projects Private Limited, release of Floor Area Ratio (FAR) to Noida and Greater Noida Authorities, and deletion of Vansh Consultants Private Limited's name from a forensic audit report. The core issue revolves around stalled real estate projects, financial irregularities, and the plight of home buyers who have invested in these projects.
The Amrapali Group of Companies' real estate projects have been stalled for several years, leaving home buyers in a precarious situation. NBCC (India) Ltd. was appointed to complete the incomplete projects. Royalgolf Link City Projects Private Limited was directed to repay a sum of Rs.48.52 crores with 12% interest. Noida and Greater Noida Authorities sought the release of FAR to recover their dues. Vansh Consultants Private Limited sought the deletion of its name from a forensic audit report, claiming it was wrongly identified as a debtor. The real estate sector is facing financial distress, exacerbated by the COVID-19 pandemic. Home buyers have obtained loans but cannot enjoy the fruits of their investment. Noida and Greater Noida Authorities have not been issuing
…Writ Petiti…
Reference to a judgment dated 23.7.2019 is made…