SC lauds ED for protecting homebuyers in Udaipur real estate fraud case

Contributing sentiments towards policy:

62% : The restored properties are valued at approximately Rs. 175 crore.
57% : "We place on record our appreciation for the efforts made by the counsel for the parties and the Directorate of Enforcement in restoring the attached properties to secure the interests of genuine and innocent homebuyers," the Court concluded.
53% : New Delhi, Oct 15 (UNI) The Supreme Court has commended the Directorate of Enforcement (ED) for its proactive steps in restoring attached properties to safeguard the interests of innocent homebuyers affected by a real estate scam linked to the Royal Rajvilas housing project in Udaipur, Rajasthan. A Bench comprising Justice Sanjay Kumar and Justice Alok Aradhe observed that the ED's actions ensured relief for genuine investors who had suffered due to the fraudulent activities of the developers.
50% : "We record our appreciation for the efforts made by the Directorate of Enforcement in restoring the attached assets to protect the rights of genuine and innocent homebuyers," the Court noted.
41% : The project was undergoing the Corporate Insolvency Resolution Process (CIRP) when a case under the Prevention of Money Laundering Act (PMLA) was registered.

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