BIKRAM CHATTERJI & ORS versus UNION OF INDIA & ORS.

BIKRAM CHATTERJI & ORS versus UNION OF INDIA & ORS.

The Court refused to recall or revisit its earlier orders and declined to declare La-Residentia Developers Pvt. Ltd. to be part of the Amrapali Group for the purposes of directing total takeover by NBCC given the ongoing progress of construction and risk of cost escalation; however, the Court permitted the Company to continue development and to sell the 632 flats (equivalent to 19.75%) subject to conditions: all transactions to be counter-signed by the Court Receiver or nominee, sale price certified by the Receiver as fair, sale proceeds credited to a separate account under Receiver control, certified cost-of-construction to be paid to the Company, and the Receiver may advance funds...

Parties
Petitioners: Bikram Chatterji & Ors; Respondents: Union of India & Ors; Company/applicant: La-Residentia Developers Private Limited; Association/applicant: Amrapali La Residentia Flat Buyers Association; Creditor/applicant: Religare Finvest Limited
Jurisdiction
India
Judgment Date
29 June 2021
Procedural Posture
Writ Petition (civil) No. 940 of 2017 Under Article 32 of the Constitution of India / Interim Applications (i.a. Nos. Listed) Disposed by Order Dated 29.06.2021
Outcome
All applications disposed of. First two sets of applications (seeking recall/revisit and takeover) rejected; third set required no separate order. Directions issued permitting sale of 632 flats under conditions; Company entitled to continue construction; no order as to costs.
Legal Topics
Forensic Audit, Receiver and NBCC Takeover, Surrender of Flats (19.75% / 632 Flats), Escrow and Sale of Flats Under Receiver Supervision, GNIDA Dues and Revalidation, RERA Validity
Housing Real Estate Company Law Property Law Injunctions/remedies Forensic Audit Receiver and NBCC Takeover Surrender of Flats (19.75% / 632 Flats) +3 more

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Parties

Bikram Chatterji & Ors

Petitioners

Union of India & Ors

Respondents

La-Residentia Developers Private Limited

Company/applicant

Amrapali La Residentia Flat Buyers Association

Association/applicant

Religare Finvest Limited

Creditor/applicant

Procedural Posture

Writ Petition (civil) No. 940 of 2017 Under Article 32 of the Constitution of India / Interim Applications (i.a. Nos. Listed) Disposed by Order Dated 29.06.2021

Legal Issues

  1. 1 Whether La-Residentia Developers Pvt. Ltd. is part of the Amrapali Group of Companies
  2. 2 Whether the Court should recall or revisit orders dated 23.07.2019 and 14.10.2019
  3. 3 Whether the entire project or the component of 632 flats should be handed over to NBCC and the Court Receiver

Ratio Decidendi

The Court refused to recall or revisit its earlier orders and declined to declare La-Residentia Developers Pvt. Ltd. to be part of the Amrapali Group for the purposes of directing total takeover by NBCC given the ongoing progress of construction and risk of cost escalation; however, the Court permitted the Company to continue development and to sell the 632 flats (equivalent to 19.75%) subject to conditions: all transactions to be counter-signed by the Court Receiver or nominee, sale price certified by the Receiver as fair, sale proceeds credited to a separate account under Receiver control, certified cost-of-construction to be paid to the Company, and the Receiver may advance funds...

Court Disposition

All applications disposed of. First two sets of applications (seeking recall/revisit and takeover) rejected; third set required no separate order. Directions issued permitting sale of 632 flats under conditions; Company entitled to continue construction; no order as to costs.