Noida : An important hearing was held on this in the National Company Law Appellate Tribunal (NCLAT) on Wednesday. In this, Noida, Greater Noida and Yamuna Authority prominently raised the demand for recovery of their dues. To complete these projects, the National Building Construction Corporation (NBCC) had already presented a proposal, which was amended and a new proposal was filed in September.
Flat buyers’ demand: NBCC should be given responsibility
Flat buyers have already clarified their position in NCLAT. Many buyers have campaigned in favour of NBCC, they believe that only NBCC can complete these incomplete projects promptly. In the revised proposal, NBCC has assured to complete the project within 12 to 36 months.
Authorities put forth their side
In Wednesday’s hearing, Noida, Greater Noida and Yamuna authorities put forth their side before the court and said that they have to get a huge amount of dues from Supertech. The authorities insisted that their dues should be settled first so that the project could move forward smoothly.
Objections of Supertech and other companies
Supertech and the authorities had lodged objections to the proposal of NBCC. Apart from this, some other companies have also given proposals to complete the project in court. After hearing the arguments of all the parties in this matter, the court has to decide who will be given the responsibility of completing the incomplete projects.
The next hearing will be on Thursday
IRP Hitesh Goyal appointed on Supertech said that in Wednesday’s hearing, the court heard the side of the authorities. The next hearing of the case will be on Thursday. In which an important decision can come regarding the future of the project. Flat buyers hope that the court’s decision will be in their favour and the projects lying incomplete for years will be completed soon. The court’s decision will not only bring relief to flat buyers, rather, it will also raise new hopes in the real estate projects of Noida and Greater Noida.