https://www.taxtmi.com/caselaws?id=383537 Fraudulent diversion of homebuyers' funds, false disclosures, and non-completion of housing projects justified cancellation of the promoter group's real estate registration and the related lease deeds. Applying the protective scheme of real estate law and the public trust doctrine, the Court treated allottees' interests as paramount and held that authorities' and banks' claims could not be enforced against the project land or flats to the prejudice of buyers. It also required project completion under court-monitored implementation, with completion certificates, conveyance deeds, and possession to follow, while dues were to be recovered from other attached assets and persons holding diverted funds. en-us Tue, 23 Jul 2019 00:00:00 +0530 Tue, 21 Jan 2025 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383537 Fraudulent diversion of homebuyers' funds, false disclosures, and non-completion of housing projects justified cancellation of the promoter group's real estate registration and the related lease deeds. Applying the protective scheme of real estate law and the public trust doctrine, the Court treated allottees' interests as paramount and held that authorities' and banks' claims could not be enforced against the project land or flats to the prejudice of buyers. It also required project completion under court-monitored implementation, with completion certificates, conveyance deeds, and possession to follow, while dues were to be recovered from other attached assets and persons holding diverted funds. Case-Laws Indian Laws Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383537