The National Company Tribunal has recommended the hand over of 600 flats by the builder from November had been rejected by the buyers association stating the builder is evading its commitment and if this happens it will only be able to hand over the flats by 2022.
Buyers want the Noida Authority and State Government should make the builder accountable towards the buyers Liabilities and Flats.
Buyers are also planning to appeal in the Supreme Court for them to be accepted and financial Creditors in the Insolvency case.
Again how will the Flats will be allotted as all the booking were made around the same time and who will get the flat first and and what happens to the penalties for delayed possessions is not clear.
The Group has been given 9 mounts time by the NCLT for a resolution how will this be done is a big question.
What are the Legal consequences for all the above is to be answered.