The apex court was hearing a case pertaining to the constitutional challenge filed by a slew of real estate developers against the right of financial creditors provided to homebuyers under the Insolvency and Bankruptcy Code
The Supreme Court on July 18 asked the government to provide a list of states where the RERA Authority and the appellate tribunal are yet to be set up.
The apex court was hearing a case pertaining to the constitutional challenge filed by a slew of real estate developers against the right of financial creditors provided to homebuyers under the Insolvency and Bankruptcy Code.
The court was informed by lawyers representing homebuyers that in many states RERA has still not been adopted or proper implementation has not taken place.
After hearing the issues, the bench of justices Rohinton Fali Nariman, Sanjiv Khanna and Surya Kant took suo moto cognisance and has directed the Additional Solicitor General (ASG) appearing for the government to provide a list of states where the RERA Authority, Appellate Tribunal has not yet been set up and the Adjudicating Officer has not been appointed, said advocate Aditya Parolia, who is representing more than 300 homebuyers in the case.
It was also noted that in several states government officers have been appointed temporarily.
The Supreme Court has also demanded that a list of such states be presented to it by July 23.
While hearing the arguments, the court also observed that in many states the Central Act was not being adhered to in the manner it ought to, he said.
Several states have proxy authorities in place and in certain states, these have not been set up, it noted. A tribunal has also not been constituted in some states.
More than 100 developers have challenged the constitutional validity of the right of financial creditor provided to homebuyers under the Insolvency and Bankruptcy Code.The case was filed by Pioneer Urban Land and Infrastructure in March 2019. A host of similar writs were by filed by developers such as BPTP, Supertech, Today Homes Noida, Ireo, CHD Developers, ATS among others.The Great Diwali Discount!
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