case of Jaypee Infratech Ltd.
appointing a representative of the home buyers, i.e. the allottees,
13
to participate in meetings of the Committee ... home the point that not a single one of
several characteristics of financial creditors stated in that judgment
would apply to allottees/home buyers
others1 has elaborately dealt
with the apprehension that allowing the home buyers
1 (2019) 8 SCC 416
15
like the petitioners who finance the builder ... this
Court. There is no worthwhile data of misuse by home
buyers. He points out the judgments passed by NCLAT
where the financial creditors
creditors
of the corporate debtor JIL and the associations of home buyers, who have
invested in the proposed projects of JIL and JAL, have preferred ... Jaypee Kube Buyers Welfare Association;
Wish Town Property Owners Welfare Society; KRH Buyers Association ABL
Workplace:
7
They are the associations of home buyers
months and
other world-class amenities were also promised.
3. Various home buyers booked their apartments during the period
2010-2014. The buyers signed ... order of NCLT has a direct
bearing on the home buyers of M/s. Amrapali Centurian Park Private
Limited, respondent no.4, which is virtually
present
judgment.
3. The respondents herein are the allottees/home buyers who
have made their substantial investment from their hard earned
savings under the belief ... developer will
hand over possession of the unit in terms of home buyer’s
agreement but their bonafide belief stood shaken when the
promotors failed
under Article 32 of the
Constitution for protecting the interests of home buyers in projects floated by
Jaypee Infratech Limited1. JIL is a special purpose ... August 2017, the Board released a press note clarifying that
home buyers could fill in Form -F as they could not be treated
date as 30 November
2018, a list of 1338 home buyers was prepared to whom pro rata
distribution of Rs 87 crores is in progress ... home buyers have
deposited advance receipts. The Amicus Curiae states that 503 home
buyers have been paid pro rata while the process for the payment
Reason:
JUDGMENT
Dr Dhananjaya Y Chandrachud, J
1 The petitioners are home buyers in a group housing project, Canary Greens in
Sector 73, Gurgaon, being ... developed by the first respondent. Home buyer agreements
were entered into between the eleven petitioners and the first respondent. Clause 21 of
the agreements envisaged
Buyers Agreements were entered into between the builder and the flat/home buyers and flat/home buyers, who had made payment to the extent ... total consideration of their flats/houses.
5. Dream of flat/home buyers having their own house got shattered and came crushing down when
home buyers incriminating the applicant and that his role as per
his profile was only in relation to construction and that he was not involved ... receiving any amount from any of the home buyers. Inter alia, it has been
submitted on behalf of the applicant that the charge sheet
