New Delhi: The Supreme Court on Wednesday directing Noida and Unitech Group authorities to find a “pragmatic” solution to the contributions that will be paid by the company to the authority that has increased more than Rs 8000 Crore.
The new management appointed by the company despite argues that the number has arrived in “completely ignoring” the agreement.
Judge Dy Chandrachud and Shah said the two parties must be flexible in their position because it is necessary to revive the real estate company to protect the interests of 15,000 home buyers who invest their money back but still waiting for ownership.
Demand RS 8,063 Crore by Noida and larger noida authorities by adding penalties and interest as unreasonable directors, Unitech Director urged the Supreme Court to release these components and direct authority to only demand the principal amount.
Bench said if the authority insisted on the payment of the amount requested by him, it was impossible to revive the Unitech project and, no, including authority, would get anything.
“We don’t say that you will not be paid anything.
We will not receive a dispute that there is no payment for you.
You are a public body and you also need funds.
So give a realistic estimate of contributions,” Bench told the authority.
Advocate Ravindra Kumar, appeared for authority, crashing into new management and told the bench that the resolution plan was framed behind it.
It told the bench that the authority made several calls to the head of the board of directors, but he did not respond.
The bench suggested that they forget the past and sit together to find a way out so that the interest of home buyers was protected along with the authorities.
Unitech, in its application, said that it had been given land with competitive offers in the 96.97 and 98 sectors in 2006 and in sector 113 and 117 in 2008 but the authority of Noida still has not been able to provide complete and absolute rights for allocated land.
It is said, “The main part of the rented land is under litigation between noida and landowners, for more than four years, making project projects can not be used.
Noida has transferred the burden of the improved compensation in Unitech.
Noida even burdens the interests and interests of punishment without basis Of course.
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