Semi furnished Apartments/Flats for Rent in Jaypee Greens Greater Noida

In a recent hearing on May 16, the Supreme Court has stayed the liquidation proceedings against the Jaypee Infratech and has asked the builder to deposit Rs 1,000 crore by June 15 to refund homebuyers. Now, the matter has been listed for hearing on July 4.

In an audit of 28 builder accounts by the Yamuna Expressway Industrial Development Authority (Yeida), two parties have been found guilty of diverting funds collected form homebuyers. The two developers who have been found to be diverting funds are SDS Infracon and Green Bay Infrastructure. While SDS Infracon is accused of diverting Rs 182.44 crore it collected from homebuyers, Green Bay misused Rs 173.10 crore collected from the same source.

However, the forest cover in India has increased by 6,778 square kilometres during the last two years. This is a marginal rise of 0.21 per cent compared to the 2015 data. Development projects, illegal encroachments, construction and urbanisation, conversion of forest land for cultivation and commercial logging are the contributing factors for the loss of forest cover in the country. Can we as a country afford the green cover loss? Liveability is at stake. 

To fight the rising air pollution levels across the country, ahead of the Earth Day on April 22, the Centre has launched the National Clean Air Programme. Under the project, state-level committees will be formed that would include scientists and trained professionals who would collect authentic data, form action plan and implement it. All of this will be monitored by an apex committee formed under the environment ministry.

Homebuyers would now act as “financial creditors” when fates of real estate developers who declare themselves insolvent are decided, with the Union Cabinet approving an ordinance to amend the Insolvency and Bankruptcy Code (IBC) of 2016.