Tag: Supreme Court

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SC Urges CBI Probe into Builders-Banks Nexus, Homebuyers’ Woes

NEW DELHI: On Wednesday, the Supreme Court criticized the CBI regarding its investigation into the alleged “unholy nexus” between banks and developers that has reportedly led to homebuyers in Delhi-NCR and other regions being defrauded. The court emphasized that any delays in the probe would only exacerbate the suffering of affected flat buyers. A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi took issue with the CBI’s claim that several cases of fraud under the subvention scheme should be handed over to state agencies for further investigation. The bench rejected this proposal and instructed…

Latest StoriesRegulatory

SC Issues Notice on Ramodaya Housing Project in Mormugao

PANAJI: The Supreme Court has issued a notice to the town and country planning department and the Mormugao planning and development authority regarding a petition challenging the permissions granted for the Ramodaya Cooperative Housing Society project in Mormugao. The SC bench, consisting of Justices Vikram Nath and Sandeep Mehta, has directed all parties to maintain the status quo concerning the possession and construction of the disputed property. Swapnesh Sherlekar approached the SC after the Bombay High Court dismissed his petition last year, which contested the development permissions and alleged significant hill cutting for the project. Sherlekar is challenging the inaction…

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Unitech CEO’s Term Extended by One Year

NEW DELHI: Unitech Ltd announced on Tuesday that its board has sanctioned a one-year extension for CEO Ashok Kumar Yadav. In a regulatory disclosure, Unitech, based in Gurugram, stated that during last month’s board meeting, the extension was approved effective from February 11, 2026, or until further notice, whichever comes first. In 2020, the central government intervened and superseded the company’s board following a Supreme Court ruling. The Ministry of Corporate Affairs suggested the formation of a new board, which the Supreme Court ratified on January 20, 2020. Unitech Ltd is currently dealing with a severe cash shortage, leading to…

Latest StoriesRegulatory

Renting a Flat Doesn’t Strip Homebuyers of Consumer Rights: SC

NEW DELHI: The Supreme Court has ruled that simply renting or leasing out a residential apartment does not automatically remove the buyer’s status as a “consumer” eligible for rights under consumer protection laws. A bench composed of Justices Prashant Kumar Mishra and N V Anjaria stated that the responsibility lies with the property builder to demonstrate that the primary reason for purchasing the apartment was for “commercial purposes” to exclude the buyer from being classified as a “consumer.” The bench noted that section 2(1)(d) of the Consumer Protection Act defines a “consumer” as anyone who purchases goods or services for…

Latest StoriesRegulatory

SC aids Supertech buyers, upholds NCLAT order for NBCC takeover

NEW DELHI: The Supreme Court has intervened to assist thousands of frustrated homebuyers who have waited nearly two decades for their dream homes. On Thursday, the court upheld an NCLAT directive for the state-owned NBCC to swiftly complete 16 housing projects by the financially troubled realty firm Supertech Limited. The court has prohibited all tribunals and high courts from issuing orders that could hinder construction efforts by the National Buildings Construction Corporation (NBCC) Limited. A bench, comprising Chief Justice Surya Kant and Justice Joymalya Bagchi, invoked its extraordinary powers under Article 142 of the Constitution, affirming the December 12, 2024,…

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SC asks Maharashtra govt, civic body to respond on slum rehab plea

File photo NEW DELHI: On Monday, the Supreme Court sought responses from the Maharashtra government and the Municipal Corporation of Greater Mumbai regarding a petition that challenges a Bombay High Court ruling allowing slum rehabilitation schemes on plots originally designated for parks, gardens, and playgrounds. On June 19, 2025, the Bombay High Court upheld the legitimacy of a regulation concerning slum rehabilitation schemes, seeking to balance Mumbai’s critical need for green spaces with the constitutional right to shelter. It endorsed Regulation 17(3)(D)(2) of the Development Control and Promotion Regulations (DCPR) 2034, which permits the execution of slum rehabilitation schemes on…

Latest StoriesRegulatory

SC: No tolerance for Unitech project order non-compliance

NEW DELHI: The Supreme Court stated on Thursday that it will take a stringent stance against any state authorities that fail to comply with its orders regarding the real estate group Unitech Ltd. The court cautioned against any impediments to the completion of stalled housing projects. A bench comprising Justices J B Pardiwala and K V Viswanathan established a priority schedule for addressing issues related to Unitech and mandated that state development authorities—such as the Noida Authority, Greater Noida Authority, and Haryana’s Town and Country Planning Department—must grant all necessary approvals. The bench indicated, “We will seriously consider any non-compliance…

Latest StoriesRegulatory

SC Urges Delhi Court to Consider CBI Charges on Builders-Banks Nexus

NEW DELHI: The Supreme Court directed a special CBI court to take cognizance within two weeks of three chargesheets filed by the agency concerning the “unholy nexus” between banks and developers that has defrauded homebuyers in NCR, and to proceed with the trial. A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi was informed by Additional Solicitor General Aishwarya Bhati, representing the CBI, that significant progress in investigating all 25 homebuyer cases would be achieved by March. Last July, the court permitted the CBI to initiate 22 cases regarding the nexus between banks and…

Latest StoriesRegulatory

HC Seeks Noida’s Response to SC Order on Land Payment

NOIDA: The Allahabad High Court has requested clarification from the Uttar Pradesh government and Noida Authority regarding compliance with the Supreme Court’s July 10, 2024, ruling mandating compensation to landowners under the 2013 Land Acquisition Act. A division bench consisting of Justices Mahesh Chandra Tripathi and Kunal Ravi Singh has sought information about whether the compensation has been reassessed and issued according to the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, which generally offers higher payments including revised market value, solatium, and interest. The Noida Authority acquired land for industrial development under the…

Latest StoriesRegulatory

SC: Homebuyers, RWAs can’t join developers’ insolvency process

NEW DELHI: The Supreme Court ruled on Thursday that homebuyers’ societies, or Resident Welfare Associations (RWAs), generally established for the maintenance and management of common facilities in housing projects, do not possess the right to intervene in the insolvency proceedings of the developer company. A bench comprising Justices JB Pardiwala and R Mahadevan upheld the insolvency proceedings against Takshashila Heights India Private Ltd under the Insolvency and Bankruptcy Code of 2016. It specified that if creditors aim to utilize the provisions of the code, they must genuinely seek to revive the corporate debtor. The court stated, “If revival is not…