https://www.taxtmi.com/caselaws?id=769895 SC held that banks and builders-cum-developers showed blatant disregard for court directions regarding subvention schemes in housing projects across Noida, Greater Noida, and Gurugram. Only 9 out of 30 banks and 5 out of 40 builders filed compliance affidavits, suggesting possible collusion. Court directed CBI Standing Counsel to appear for constituting Special Investigation Team to investigate nexus between banks and builders regarding projects where homebuyers paid substantial amounts but construction remained incomplete or unlaunched. Banks must exercise due diligence before loan disbursement and homebuyers cannot be held liable for builder defaults under subvention schemes without possession delivery. Application allowed. en-us Tue, 04 Mar 2025 00:00:00 +0530 Sat, 03 May 2025 08:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769895 SC held that banks and builders-cum-developers showed blatant disregard for court directions regarding subvention schemes in housing projects across Noida, Greater Noida, and Gurugram. Only 9 out of 30 banks and 5 out of 40 builders filed compliance affidavits, suggesting possible collusion. Court directed CBI Standing Counsel to appear for constituting Special Investigation Team to investigate nexus between banks and builders regarding projects where homebuyers paid substantial amounts but construction remained incomplete or unlaunched. Banks must exercise due diligence before loan disbursement and homebuyers cannot be held liable for builder defaults under subvention schemes without possession delivery. Application allowed. Case-Laws IBC Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769895