Working on proposal to address home buyers’ woes, SC told

New Delhi, July 11

The Centre told the Supreme Court today that it is working on a "uniform proposal" to address the grievances of home buyers who are left in the lurch by erring realtors after having paid their hard earned money.

The top court observed that it may use its plenary power under Article 142 of the Constitution to protect the interest of over 21,000 home buyers in the Jaypee Infratech case, if their grievances are not addressed.

It asked the contesting parties before the National Company Law Appellate Tribunal (NCLAT) to try to reach a common ground for arriving at a decision.

A Bench of Justices AM Khanwilkar and Dinesh Maheshwari deferred the hearing for July 18, after the Centre told the court that NCLAT will hear the matter on July 17.

Additional Solicitor General Madhvi Diwan, appearing for the Centre, informed the court that hearing before the NCLAT is scheduled for July 17 and it would be better to await its outcome.

She said that the Centre is working on a uniform proposal to address various grievances of aggrieved home buyers and it will be submitted in the pending Unitech home buyers case by July 23, as per the direction of the apex court in that matter.

Diwan said ministry officials have informed her that they are working on a uniform proposal which would take care of various issues of the home buyers.

The counsel appearing for the home buyers said they have an apprehension that Jaypee Infratech Ltd (JIL) may be sent for liquidation which could hamper their interest.

To this, the Bench said even if NCLAT sends the company for liquidation, the apex court has enough plenary powers under Article 142 of the Constitution to protect the interest of home buyers.

The counsel then referred to the Unitech home buyers case where the government recently indicated that it may take over the stalled projects and said that similar relief can be granted to the home buyers in Jaypee case. — PTI

Jaypee Infra: SC may use plenary power

• The top court observed that it may use its plenary power under Article 142 of the Constitution to protect the interest of over 21,000 home buyers in the Jaypee Infratech case, if their grievances are not addressed
• It asked the contesting parties before the National Company Law Appellate Tribunal to try to reach a common ground for arriving at a decision
• Additional Solicitor General Madhvi Diwan said the Centre will submit its proposal in the pending Unitech home buyers case by July 23, as per the direction of the apex court

.