Supreme Court allows the promoter of Soni Infratech Pvt. Ltd.(Corporate Debtor) to complete the real estate project – Anand Murti Vs. Soni Infratech Pvt. Ltd. & Anr. – Supreme Court
The Hon’ble Court finds that there are only seven out of the 452 homebuyers, who opposed the Settlement Plan. It will rather be in the interest of the homebuyers that the appellant/promoter is permitted to complete the project as undertaken by him. It is pertinent to note that he has agreed that the cost of the flat will not be escalated. He has also given the time line within which the project would be completed. Not only this, but he has also undertaken to refund the amount paid by the seven objectors, if they so desire. He has further agreed that there shall be a team of 5 persons, 2 from the homebuyer’s side and 2 from the management side and that the entire process shall be monitored by the IRP.