Top Court lauds ED on issue of homebuyers
“We place on record that we appreciate the efforts made by the Directorate of Enforcement (DoE) to restore the attached properties in order to secure the interests of genuine and innocent home buyers,” a bench headed by Justice Sanjay Kumar said in an order issued on Tuesday. he said.
In this case, ED has successfully returned the unsold inventory of 354 flats, 17 commercial units and two plots in Project Royal Rajvilas, Udaipur, with a current market value of around 175 crores to the Successful Resolution Applicant of M/s Udaipur Entertainment World Private Ltd for the ultimate benefit of bona fide homebuyers who purchased the units in the said project.
The compensation ended the suffering of 213 innocent home buyers who had been victimized for more than 12 years, paving the way for the completion of the project and the final delivery of the completed houses to these home buyers.
