Test Article | ED restores Rs 175-cr worth assets to distressed homebuyers; SC praises its initiative - The Times of India

Contributing sentiments towards policy:

61% : The SC lauded the role of the ED saying "...we place on record our appreciation for the efforts made by the learned counsel for the parties and the DoE (Directorate of Enforcement or ED) in restoring the attached properties to secure the interests of genuine and innocent home buyers."
49% : The apex court directed both parties to arrive at a consensus so as to "protect" the interest of the bona-fide homebuyers, who had invested their money in the project and could not get possession of their units/flats, due to aforesaid legal proceedings pending before different judicial forums, as per the ED."In view of the directions of the Hon'ble Supreme Court to protect the interest of the bona-fide homebuyers, the ED approached the Resolution Professional and new management of UEWPL seeking the details of all the homebuyers whose claims were admitted before the NCLT, Mumbai," it said.

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