Thousands Crying, We’ll Order CBI Probe: SC on People Not Getting Possession of Flats
In a landmark decision, the Supreme Court has assured a Central Bureau of Investigation (CBI) probe into the alleged nexus between banks and builders, after homeowners claimed they were being forced to pay home loan EMIs without getting possession of their flats. The apex court’s decision comes as a huge relief to thousands of homebuyers who have been struggling to get possession of their flats, despite paying their EMIs on time.
The Supreme Court’s assurance to order a CBI probe was made by Justice Surya Kant, who observed that “thousands of people are crying. We can’t wipe their tears but we can address their issues.” Homebuyers have been alleging that builders are delaying handing over flats, despite receiving payments from them. This has led to a situation where homebuyers are being forced to pay EMIs on their homes without actually getting possession of the property.
The Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders has raised concerns about the widespread problem of delayed possession of flats. The issue has been plaguing the real estate sector for years, with thousands of homebuyers affected. The Supreme Court’s intervention is seen as a major step towards addressing the grievances of homebuyers and ensuring that they get possession of their flats.
The issue of delayed possession of flats has been a major concern for homebuyers, who have been struggling to get the flats they paid for. The problem has been exacerbated by the lack of effective regulatory measures to prevent builders from delaying possession. The Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders is seen as a major step towards addressing the issue.
The Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders is likely to have far-reaching implications for the real estate sector. The probe is expected to investigate the role of banks and builders in delaying possession of flats, and identify the reasons behind the delays. The probe is also expected to identify the persons responsible for the delays and take action against them.
The Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders has been welcomed by homebuyers, who see it as a major step towards addressing their grievances. The decision is also seen as a major victory for the homebuyers, who have been struggling to get possession of their flats.
The issue of delayed possession of flats has been highlighted by various reports and studies, which have shown that thousands of homebuyers are affected by the problem. A report by the Reserve Bank of India (RBI) had highlighted the issue of delayed possession of flats, and had urged banks to take action to prevent such delays.
The Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders is also expected to have implications for the banks, which have been accused of complicity in the delays. The probe is expected to investigate the role of banks in delaying possession of flats, and identify the reasons behind the delays. The probe is also expected to identify the persons responsible for the delays and take action against them.
In conclusion, the Supreme Court’s decision to order a CBI probe into the alleged nexus between banks and builders is a major step towards addressing the issue of delayed possession of flats. The probe is expected to investigate the role of banks and builders in delaying possession of flats, and identify the reasons behind the delays. The probe is also expected to identify the persons responsible for the delays and take action against them.
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