India cricketer Mahender Singh Dhoni’s association with real estate group Amrapali has several FIRs filed against him by homebuyers that he aggressively promoted its fraudulent activities, which lured buyers to invest in the said project.
The District Consumer Disputes Redressal Forum, Chandigarh, has directed Emerging India Real Assets to pay Rs 35,000 as compensation for selling plots before seeking necessary permissions without taking development license from the authority concerned i.e. Greater Mohali Area Development Authority (GMADA).
There are 5,200 flats in various Amrapali projects which are either bogus or unsold, court-appointed forensic auditors on Monday told the Supreme Court, which also grilled multinational firm, JP Morgan, for investing Rs 85 crore in the real-estate company in 2010.
Promoters of NCR-based real-estate firm 3C Developers are set to face even more trouble, with the National Consumer Disputes Redressal Commission (NCDRC) finally deciding to initiate criminal proceedings against them after the firm failed to pay compensation for delays in delivering projects to its buyers despite several reminders.
The Telangana Real Estate Regulatory Authority (RERA) will soon be extending the ‘deadline’ for accepting applications filed for mandatory registration by projects, including buildings and layouts, till the month-end but with a penalty of ?2 lakh.