Noida : Homebuyers in Noida have been facing innumerable problems for more than a decade. The biggest problem among these is related to the collusion of builders and banks, due to which thousands of buyers have suffered financial loss.
CBI will conduct a preliminary investigation on Supertech
The Supreme Court has ordered the CBI to conduct a preliminary investigation of the projects of Supertech Limited. The purpose of the investigation is to expose the suspicious transactions and nexus between builders and banks.
Order to UP and Haryana DGP to form SIT
The Supreme Court bench, while hearing the affidavit of the CBI, has directed the Director Generals of Police of Uttar Pradesh and Haryana to help in the formation of SIT (Special Investigation Team). For this, the list of DSP, Inspector and Constable will be handed over to the CBI.
Order to form SIT to DGPs of UP and Haryana
Hearing the affidavit of CBI, the bench of Supreme Court has directed the Director Generals of Police of Uttar Pradesh and Haryana to help in the formation of SIT (Special Investigation Team). For this, the list of DSP, Inspector and Constable will be handed over to CBI.
Instruction to cooperate with RBI and other institutions
The court has directed RBI, Noida and Greater Noida Authority, Ministry of Housing, ICAI and other institutions to appoint nodal officers within a week and provide full cooperation to SIT.
Huge payments had been received on incomplete projects
The court had earlier also said that despite the builder not completing the work on time in many projects, the banks released up to 60-70% of the amount. The buyers had to bear the brunt of this.
Burden of EMI, no possession
The hearing is being held on those petitions in which home buyers have alleged that they have not yet got possession of the flat, but the banks are insisting on collecting EMI. These petitions are related to the projects of Noida, Greater Noida and Gurugram.