Chief Minister Yogi Adityanath led Uttar Pradesh government has finally started cracking the whip against the real estate majors who were taking government and flat buyers too lightly.
It is nothing less than a huge blow for some of the pioneer Noida builders as their noose was tightened on Saturday. According to news agency ANI, Noida Police on Saturday registered FIRs against 13 project directors for allegedly cheating home buyers. Reportedly, the action was taken after the flat buyers had put forward their grievances in front of three minister panel formed by Yogi Government on Thursday. They alleged that they had been cheated by builders. Ministers told the police to probe the matter, according to PTI.
On the complaint of the buyers, 13 cases were lodged against the infrastructure companies.
Prabhat Dikshit, PRO Senior Superintendent of Police said, “9 cases have been registered against Amrapali Builders.
“One against Supertech Builders and 3 against others.”
Nowadays, builders of the Noida and Greater Noida region are regularly in the news for many wrong reasons.
Recently, IDBI filed an insolvency plea in National Company Law Tribunal (NCLT) after Jaypee Infratech defaulted on a loan amount of around Rs. 8,500 crore. Although the company claims that it has adequate assets to repay the loan, IDBI went ahead and filed the plea. Allahabad bench of the NCLT admitted IDBI Bank’s insolvency plea against Jaypee Infratech. Following this scenario, Jaypee home buyers approached the Supreme Court claiming no rights under Indian Penal Code (IPC).