The Supreme Court has cancelled the registration of Amrapali Group and ordered the Enforcement Directorate to charge the builders with fraud and money laundering.
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It may look as if the court has brought the moon to the earth! Reality is that if Supreme Court can solve all the problems, it is better to have only supreme courts all over the country or convert all courts into Supreme Courts. They teach law, process, procedure, fairness, jurisdiction and the like principles, but when it comes to Supreme Court, they seem to forget everything. There is a wisdom in creating several authorities. As a lawyer, I bet nothing is going to happen by this order. The better idea would be let RERA do its job and ensure that babus taking huge salaries and rushvats do that job in a better manner, closer to reality. Appoint investigation agency with some deadline to deal with offence.
This judgement merely seeks to lay down the principles for protection g the unsuspecting homebuyers from the predatory and patently fraudulent, fly by night type, builders, the majority of whom actually front for very powerful and politically volatile and influential people. This may only be a beginning g and it will not do to merely hand over the job of the scavenger to a PSUwithout specifically suggesting the point by point means to recover the entire amount of the loot by the unscrupulously dangerous builders luke Amra pali which is just a representative figure. Personally, I would be inclined to suggest several other measures in this regard from my experience as a tax collector-cum-investigator of tax frauds. I hope the Hon’ble Cort goes further to constitute a committee to squarely deal with this malaise which actually is a menace. For the time being, I would most respectfully submit that their Lordships only mandate a very fundamental inquiry into the source of the fees paid by the subject culprits to their battery of lawyers representing them all through. This exercise, it is respectfully, submitted, will at least unearth the secret sources of funds available with the well planned fraud and the type of people complicit in the crimcrime that is consciously encouraged and even protected by the laws of the land.
The apex court has stepped out of the crease, done the right thing. Absent its somewhat unconventional order, thousands of middle class families would have been left stranded, caught in an interminable legal maze. When the exercise of the awesome power of the state is done in the utmost good faith, people don’t mind an excess of zeal. Similarly, to deal with the mountain of NPAs – I remain a little sceptical about the IBC – if the government and the central bank work in tandem, radiate the same trustworthiness that the apex court does, they could cover a lot of ground.
It may look as if the court has brought the moon to the earth! Reality is that if Supreme Court can solve all the problems, it is better to have only supreme courts all over the country or convert all courts into Supreme Courts. They teach law, process, procedure, fairness, jurisdiction and the like principles, but when it comes to Supreme Court, they seem to forget everything. There is a wisdom in creating several authorities. As a lawyer, I bet nothing is going to happen by this order. The better idea would be let RERA do its job and ensure that babus taking huge salaries and rushvats do that job in a better manner, closer to reality. Appoint investigation agency with some deadline to deal with offence.
This judgement merely seeks to lay down the principles for protection g the unsuspecting homebuyers from the predatory and patently fraudulent, fly by night type, builders, the majority of whom actually front for very powerful and politically volatile and influential people. This may only be a beginning g and it will not do to merely hand over the job of the scavenger to a PSUwithout specifically suggesting the point by point means to recover the entire amount of the loot by the unscrupulously dangerous builders luke Amra pali which is just a representative figure. Personally, I would be inclined to suggest several other measures in this regard from my experience as a tax collector-cum-investigator of tax frauds. I hope the Hon’ble Cort goes further to constitute a committee to squarely deal with this malaise which actually is a menace. For the time being, I would most respectfully submit that their Lordships only mandate a very fundamental inquiry into the source of the fees paid by the subject culprits to their battery of lawyers representing them all through. This exercise, it is respectfully, submitted, will at least unearth the secret sources of funds available with the well planned fraud and the type of people complicit in the crimcrime that is consciously encouraged and even protected by the laws of the land.
The apex court has stepped out of the crease, done the right thing. Absent its somewhat unconventional order, thousands of middle class families would have been left stranded, caught in an interminable legal maze. When the exercise of the awesome power of the state is done in the utmost good faith, people don’t mind an excess of zeal. Similarly, to deal with the mountain of NPAs – I remain a little sceptical about the IBC – if the government and the central bank work in tandem, radiate the same trustworthiness that the apex court does, they could cover a lot of ground.