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SC directs banks to restructure Amrapali home buyers’ loans.

The Supreme Court on Wednesday directed banks and financial institutions to restructure the loans given to Amrapali home buyers and release the remaining loan amount to them so that it can be used to complete the construction.

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Supreme Court

The Supreme Court on Wednesday directed banks and financial institutions to restructure the loans given to Amrapali home buyers and release the remaining loan amount to them so that it can be used to complete the construction.

A division Bench of the Supreme Court comprising of Justice Arun Mishra and Justice UU Lalit directed the Reserve Bank of India to permit banks to release sanctioned loans to home buyers, notwithstanding their account being non-performing asset (NPA).

Regarding FAR, the sale of  balance FAR through the Court Receiver has been allowed, and any increase in FAR, will be decided by the Authorities, namely Noida and Greater Noida.

Justice Arun Mishra in the last hearing had stated that home buyers should not be under the impression that without paying they will enjoy benefits of the property.

The bench has kept the next hearing of the case on Wednesday, June 17, for passing further directions with regard to additional suggestions received from court-appointed receiver and senior advocate R Venkatramani, who is helping with the execution of projects.

Currently, the construction of stalled projects of Amrapali is being handled by National Buildings Construction Corporation (NBCC).

In December last year, the Apex Court wanted to know from the Centre as to how much time it will take to decide on the application for financing Amrapali’s stalled projects from the newly launched Rs 25,000 crore stress fund for the real estate sector.

At the last hearing on June 3, SBICAP Ventures, which manages the government sponsored stress fund for the real estate sector, had told the Supreme Court that it was ready to fund the stalled projects of embattled real estate firm.

The Court in its last hearing had directed a joint meeting to be convened between NBCC Receiver and SBICAP, also asking SBICAP to float a company, which will collaborate with NBCC and undertake construction work, funding being with SBICAP.

The Court had also asked the UCO bank in Delhi to takeover some unsold inventory as security and deposit 2000 crore, and prepare a proposal within 7 days and place it before the court.

The Supreme Court has been monitoring the execution and handover of the stalled Amrapali housing projects ever since an internal audit report, commissioned by the Court, found grave irregularities on part of Amrapali firms and its directors. The receiver was appointed to track the completion of the stalled projects and ensure that they are completely timely and handed over to the home buyers.

Amrapali Group directors Anil Kumar Sharma, Shiv Priya, and Ajay Kumar are behind bars on the Supreme Court’s order.

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No one damaged EC the way Rajiv Kumar has done: Kejriwal on poisoning Yamuna remark notice

Failure to comply, the Commission warned, would result in appropriate action. The political stakes are undeniably high, with accusations flying between the AAP and the BJP-led Haryana government just days before a crucial election.

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Aam Aadmi Party (AAP) national convenor Arvind Kejriwal launched a scathing attack on Chief Election Commissioner (CEC) Rajiv Kumar on Thursday, accusing him of deliberately damaging the Election Commission of India’s credibility and engaging in partisan politics. The former Chief Minister said no one has damaged the election body the way Kumar has done.

The catalyst for this outburst was a notice issued by the CEC regarding Kejriwal’s allegations that the Haryana government was deliberately poisoning the Yamuna River, a crucial water source for Delhi.

Kejriwal, addressing a press conference, went on the offensive, claiming that Kumar’s actions were motivated by his desire for a lucrative post-retirement position. He vehemently declared, “No one has damaged the Election Commission the way Rajiv Kumar has done. If he wants, he can contest elections from any of the Delhi assembly seats,” challenging the CEC directly. His words carried a tone of defiance and a clear implication of political manoeuvring.

The core of Kejriwal’s accusations centred on the alleged contamination of the Yamuna River’s water supply to Delhi. He pledged to prevent Delhi’s residents from consuming the poisoned water, stating, “I will not let the people of Delhi drink poisonous water till I am alive. I know they will arrest me in two days, but I am not afraid,” underscoring his determination to fight the issue regardless of potential consequences.

This public confrontation followed the Election Commission’s expression of dissatisfaction with Kejriwal’s initial response to their notice. The Commission deemed his reply inadequate and gave him a second chance to substantiate his serious allegations against the Haryana government. The original reply, a 14-page document, detailed the alleged severe contamination and toxicity of the water from Haryana and the potential for serious health consequences and even fatalities.

The timing of this controversy is highly significant, coinciding with the upcoming Delhi elections scheduled for February 5th, with results to be announced on February 8. The Election Commission’s latest notice, issued on Thursday, demanded specific evidence by 11 AM on January 31st, including details of the type, quantity, and method of the alleged poisoning, along with precise information about the engineers involved and the methodology used for testing the water quality.

Failure to comply, the Commission warned, would result in appropriate action. The political stakes are undeniably high, with accusations flying between the AAP and the BJP-led Haryana government just days before a crucial election.

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Delhi elections: Swati Maliwal detained for dumping garbage outside Arvind Kejriwal’s residence

She emphasized that the protest wasn’t targeted at any specific party but rather at the systemic failure to address Delhi’s cleanliness crisis.

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On Thursday, Delhi Police took Rajya Sabha MP Swati Maliwal into custody for dumping garbage outside the residence of Aam Aadmi Party (AAP) national convener and former Delhi Chief Minister Arvind Kejriwal. This act of protest was a dramatic display of her discontent with the city’s deteriorating sanitation conditions.

Maliwal, once a close confidante of Kejriwal, has transformed into a staunch critic. This shift in allegiance followed an alleged assault at Kejriwal’s residence in May of the previous year, an incident that irrevocably altered their relationship. Since then, she has consistently seized opportunities to publicly lambaste Kejriwal and other AAP leaders, utilizing her platform to voice her grievances.

Her latest protest was meticulously planned. Earlier that day, she announced her intention to deliver three truckloads of garbage to Kejriwal’s doorstep, a symbolic gesture reflecting her assessment of Delhi’s current state. Speaking to the media following her detention, she delivered a scathing critique of the city’s cleanliness, characterizing it as an overflowing garbage bin.

https://twitter.com/SwatiJaiHind/status/1884901493918077281

“The whole city has turned into a garbage bin,” she declared. “I came here to have a conversation with Arvind Kejriwal. I would say to him, ‘Sudhar jao, warna janata sudhaar degi’ – ‘Reform yourself, or the people will reform you.'” She expressed complete disregard for potential repercussions, boldly stating, “I am neither afraid of his goons nor his police.”

Maliwal’s protest was not merely a personal vendetta. She framed it as a response to numerous citizen complaints, particularly those from residents of Vikaspuri who had reported an unaddressed garbage dump. She emphasized that the protest wasn’t targeted at any specific party but rather at the systemic failure to address Delhi’s cleanliness crisis.

“This protest is not against any party,” she clarified. “Today, Delhi is in an unprecedentedly bad state. Every nook and corner of Delhi is dirty, roads are broken, and drains are overflowing.” She used the opportunity to highlight the disconnect between the ruling party and the lived realities of Delhi’s citizens, asserting that Kejriwal has lost touch with the ground realities of the city he governs. The garbage, she declared, was a “filthy gift” from the AAP government to the people of Delhi.

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BJP’s Harpreet Kaur Babla wins Chandigarh mayor election

The INDIA bloc will undoubtedly need to address the internal fissures exposed by this election to effectively challenge the BJP’s dominance.

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The INDIA bloc, a significant Opposition, experienced a significant setback in the Chandigarh Municipal Corporation (CMC) mayoral elections on Thursday. Despite holding a seemingly comfortable numerical advantage, their joint candidate from the Aam Aadmi Party (AAP) and the Indian National Congress (INC), Prem Lata, lost to the BJP’s Harpreet Kaur Babla. This defeat highlights internal divisions and vulnerabilities within the Opposition coalition.

The election results revealed a surprising outcome. The BJP, possessing only 16 seats in the 35-member House, managed to secure 19 votes for their candidate, Harpreet Kaur Babla. The AAP-Congress alliance, with a combined strength of 19 councillors plus the additional vote of the Congress Member of Parliament from Chandigarh (an ex-officio member with voting rights), should have easily secured a majority. Their joint candidate, Prem Lata, however, only received 17 votes. The discrepancy strongly indicates significant cross-voting within the opposition ranks, undermining the INDIA bloc’s unified front.

The secret ballot nature of the election made it impossible to definitively pinpoint the defectors. Speculation abounds regarding potential reasons for the cross-voting, ranging from individual political ambitions to possible inducements or pressures from the ruling BJP. The loss raises serious questions about the coalition’s ability to present a cohesive and reliable challenge to the BJP in future elections. The incident serves as a cautionary tale, illustrating the fragility of alliances and the potential for internal conflicts to derail even seemingly insurmountable numerical advantages.

This setback is particularly poignant considering the history surrounding Chandigarh’s mayoral elections. The 2024 mayoral poll saw a Supreme Court intervention, overturning a BJP victory due to the then-presiding officer’s controversial invalidation of eight AAP-supporting ballots. This previous legal battle highlighted the contentious political climate in Chandigarh and the lengths to which parties are willing to go to secure victory.

The current defeat underscores the continuing volatility of the political landscape and the BJP’s persistent ability to navigate complex electoral scenarios. The INDIA bloc will undoubtedly need to address the internal fissures exposed by this election to effectively challenge the BJP’s dominance.

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