TaxTMI 
TaxTMI 
2023 (3) TMI 118
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....ling of the order dated 7th November, 2022 passed by this Court. 3. To look into the complaint of the present applicants, it will be apposite to take note of the background facts, which may be relevant for proper appreciation of the grievance which each of the applicants has pointed out in raising their joint voice for recall of the order dated 7th November, 2022, pursuant to which the interim orders passed by this Court dated 10th June, 2020, 19th August, 2020, and 25th August, 2020, stood recalled by this Court. 4. It clearly manifests from the record that various writ petitions were filed by the homebuyers, some may be in public interest, but the substratum of the writ petitions was pertaining to various projects of the companies of Amrapali Group, working as developers in Noida/Greater Noida. It was pointed out that in the year 2011, in Noida and Greater Noida, Amrapali Group of Companies entered into various real estate projects for housing and proposed to construct approximately 42,000 flats and to fulfil their commitments, various attractive projects through the form of brochures was widely published and it was assured that the delivery of possession shall be made with....
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....osit the outstanding amount under the agreement entered into with the promoters within 3 months from today in the bank account opened in UCO Bank in the branch of this Court. The amount deposited by them shall be invested in the fixed deposit to be disbursed under the order of this Court on phasewise completion of the projects/work by NBCC. 156.6. In view of the finding recorded by the forensic auditors and fraud unearthed, indicating prima facie violation of FEMA and other fraudulent activities, money laundering, we direct the Enforcement Directorate and authorities concerned to investigate and fix liability on persons responsible for such violation and submit the progress report in the Court and let the police also submit the report of the investigation made by them so far. 156.7. We direct the Institute of Chartered Accountants of India to initiate the appropriate disciplinary action against Mr Anil Mittal, CA for his conduct as reflected in various transactions and the findings recorded in the order and his overall conduct as found on forensic audit. Let appropriate proceedings be initiated and concluded as early as possible within 6 months and a report of act....
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....as possible. 7. When the matter was taken up for further hearing, apart from the defaults committed by Amrapali Group of Companies of which cognizance was taken by this Court the Court Receiver submitted his note exploring the possibilities and avenues for securing and augmenting the funds for execution of stalled projects of Amrapali Group of Companies. Indisputably, upto this stage, the grievance was confined only to examine the stalled projects of Amrapali Group of Companies and this Court ventured to find out as to how the interests of homebuyers could be secured, particularly, in the projects of Amrapali Group of Companies. 8. Around this time, when this Court was taking a call based on the Court Receiver's Report, to take a further course of action in making compliance of the directions referred to in para 156 of the judgment passed by this Court, of which reference has been made hereinabove, I.A. No.4139 of 2020 was filed by a builder, named, Ace Group of Companies, seeking certain reliefs on the same lines, as prayed for on behalf of flat buyers of Amrapali Group of Companies and it was claimed by Ace Group of Companies in their application that they may also get the ....
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....to all 114 plots which were allotted from the year 2005 onwards by Noida/Greater Noida authorities. The extract of para 42 of the order, which is relevant for the purpose is reproduced hereunder: "42. Considering the current state of real estate, the projects are standstill, and in order to give impetus to such housing projects and mainly considering plight of home buyers and as pointed out by Noida and Greater Noida Authorities that 114 plots were allotted from 2005 onwards, most of projects are incomplete; we direct that rate of interest on the outstanding premium and other dues to be realized in all such cases at the rate of 8% per annum and let the Noida and Greater Noida Authorities do a restructuring of the repayment schedule so that amount is paid and Noida and Greater Noida Authorities are able to realize the same. As to reasonable time frame, we would kike to hear the parties. In case of failure to pay, the concession granted shall stand withdrawn. However, at the same time, the Noida and Greater Noida Authorities shall also ensure that not only instalments/money are deposited, but also all such projects are completed within the stipulated time." 11. The said o....
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....this Court finally arrived at the conclusion that miscellaneous orders passed by this Court, in extending the relief to other promoters/developers other than Amrapali Group of Companies under its order dated 10th June, 2020 followed with orders dated 19th August, 2020 and 25th August, 2020 deserve to be recalled and accordingly under order dated 7th November, 2022, such interim orders passed by this Court were recalled with a further direction that the rate of interest should be calculated in respect of builders other than Amrapali Group of Companies, after taking into consideration the effect of the order dated 9th June, 2020 passed by the State of U.P. 14. After passing of the order dated 7th November, 2022, the present IAs being I.A. No.192235/22 by M/s Prateek Infraprojects India Pvt. Ltd.; I.A. No.192248/22 by CREDAI & NAREDCO; I.A. No. 192436/22 by M/s. Paramount Propbuild Pvt. Ltd.; I.A. No. 12917/23 by ET Infra Developers Pvt. Ltd. and I.A. No.26340/23 by M/s. Surya Jyoti Software Pvt. Ltd. have been filed and each of them has come with a common voice that once the orders were passed by this Court after hearing the parties and taking into consideration the objections rai....
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....f which this Court took cognizance, was of the Ace Group of Companies and to be more specific I.A. No.4139 of 2020 (Ace Group of Companies) and no such application has been filed by Ace Group of Companies for recall of the order dated 7th November, 2022. 19. Learned counsel further submits that so far as the Prateek Group of Companies is concerned, the statement which has come on record and noticed by this Court in its order dated 7th November, 2022 is indeed alarming that all its projects were completed much before the cognizance was taken by this Court and it was unable to pay the demand as raised by the Noida/Greater Noida authorities in terms of the conditions of the lease deed executed with open eyes between the parties. It also moved an IA before this Court which was not even remotely concerned with the cause of which judicial notice was taken by this Court with an object to secure interests of the homebuyers of Amrapali Group of Companies. 20. Learned counsel further submits that so far as IAs filed by CREDAI and NAREDCO and other developers are concerned, they have not filed any IA upto the passing of the order dated 7th November, 2022 and so far as the other IAs are ....