ED restores Rs 175-cr worth assets to distressed homebuyers; SC praises its initiative
New Delhi (PTI): The Enforcement Directorate (ED) has restored flats, commercial units and plots worth Rs 175 crore to more than 200 homebuyers who had been waiting to get possession of their dream home for over 12 years, the agency said.
The unsold inventory of 354 flats, 17 commercial units and two plots belong to a project named Royal Rajvilas (RRV) in Rajasthan's Udaipur.
The project's present market value is about Rs 175 crore, the ED said in a statement issued on Tuesday.
The case pertains to a money laundering investigation against an accused named Bharat Bomb, apart from some others, who are alleged to have cheated the Syndicate Bank (now Canara Bank) to the tune of Rs 1267.79 crore between 2011 and 2016.
The ED had attached properties worth Rs 535 crore in this case in April, 2019 including assets of Rs 83.51 crore in the form of unsold/unregistered inventory of a company named Udaipur Entertainment World Private Limited (UEWPL).
Multiple cases were filed against this attachment order and the company (UEWPL) was later admitted for insolvency before the National Company Law Tribunal (NCLT).
The resolution plan of the UEWPL was approved by the NCLT, Mumbai in February, 2022 as it also vacated the ED attachment order of April, 2019 (in respect of the attachment of properties of UEWPL).
"It is pertinent to mention that ED was not made a party in the proceedings before the NCLT," the agency said.
Later, the matter went to the Rajasthan High Court and after multiple hearings it ordered that the ED had "suffered" in the case as it was not impleaded as a party in the proceedings before the NCLT.
Soon after, the new management of UEWPL approached the Supreme Court challenging the Rajasthan HC order.
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.
The ED scrutinised the details of the homebuyers and submitted a 'No Objection Certificate' before the SC for restitution (restoration) of the attached properties for benefit of bona-fide homebuyers except some of the assets.
It said the agency took "proactive" approach to arrive at a "harmonious" solution without compromising the objectives of the PMLA and in interest of the 213 homebuyers who were suffering due to the "prolonged" litigation.
In view of the affidavit made by the ED, the SC issued an order on October 10 "wherein the attached properties, having a present market value of about Rs 175 crore now stand restituted under Section 8 (8) of the PMLA to the Successful Resolution Applicant of Udaipur Entertainment World Private Limited for the sole benefit of the genuine and innocent homebuyers."
This, the ED said, brings to an end the the plight of 213 innocent homebuyers who had been suffering for more than 12 years after putting their hard earned money and the protracted litigation of over seven years between UEWPL and the ED.
"The Hon'ble Supreme Court has passed the order on the peculiar facts of the case without going into the merits and has also observed that this shall not be treated as a precedent and the questions of law shall remain open to be decided in an appropriate case," the ED said.
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."
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BJP, Opposition in war of words after Constitution Amendment Bill defeat
New Delhi (PTI): The BJP and the Opposition on Saturday engaged in a war of words over the issue of the implementation of women's reservation in legislatures, with Union minister Kiren Rijiju saying the parties which stalled the Constitution Amendment Bill will face the wrath of women.
The Opposition accused the government of delaying implementation by linking it with delimitation and using it to serve its political interests.
While the BJP termed the development a “black day” and accused the Congress and other opposition parties of betraying women, the Congress and its allies asserted that the quota law, passed in 2023, should be implemented immediately and accused the government of playing politics over it.
Parliamentary Affairs Minsiter Kiren Rijiju accused the Congress of being anti-women, and said it will have to face their wrath across the country.
“They will have to face the anger of the women of the country. This is a black stain on the Congress and its allies, one that they will never be able to erase. This Bill was about giving historic representation to women—what objection could there have been?” he told reporters in the Parliament House complex.
"The opposition is celebrating after depriving women of their rights; women of the country will teach them a good lesson," he added.
Union minister Shobha Karandlaje targeted Leader of Opposition Rahul Gandhi, alleging that the Opposition’s actions had undermined both women’s empowerment and regional representation.
“They have harmed south India as well, where seats could have increased by over 50 per cent. Women were supposed to get reservation, but they have been denied that opportunity. This has been done under the leadership of Rahul Gandhi,” she alleged.
BJP MP Bansuri Swaraj accused the Congress and the INDIA bloc of deceiving women and backtracking on their earlier stand. “They have betrayed the trust of women, and we will take this story of your deception to every citizen,” she said.
Swapna Verma, general Secretary, BJP (Madhya Pradesh) Mahila Morcha, said, “Congress and its INDI alliance have once again exposed their anti-women mindset. Despite the sincere appeal of Prime Minister Shri Narendra Modi ji for collective, and non-partisan support, those driven by political obstinacy chose to defeat not just a Bill, but the aspirations of an entire nation.”
Opposition leaders accused the government of delaying implementation and using the issue for political gain in Assembly elections in West Bengal and Tamil Nadu.
Congress MP Shashi Tharoor said the opposition is not against women’s reservation, but has objected to its linkage with delimitation. “We are fully in support of women’s reservation and would have happily passed the Bill on Friday itself. Our objection was not to reservation, but to linking it with delimitation,” he said.
Tharoor said delimitation raises “fundamental questions” about the country’s future and cannot be rushed.
“This is a very important issue for India’s unity and democracy. It requires serious, wide-ranging discussion -- not something to be decided in a two-day session.
Alleging political motives, he added, “This was a political game, not about women. Women were being used to serve short-term political interests. If the government brings a new Bill in the Monsoon Session without linking it to delimitation, we will pass it.”
"There must be a serious discussion involving all parties and states, especially in light of future Census data and the framework for a new delimitation exercise.”
Congress MP K C Venugopal said there is no disagreement on women’s reservation and demanded its immediate implementation.
“Their agenda was to link delimitation with women’s reservation, which has failed. They wanted delimitation according to their convenience, like in Assam and Jammu and Kashmir, by redrawing constituencies. That has failed.
“We demand that, without any delay, the 2023 women’s reservation law be implemented,” he said.
CPI(M) leader John Brittas alleged that the government’s strategy had been exposed in Parliament.
“The dubious and diabolical game plan of the government has fallen flat. They were using women as a shield to mislead the nation. If they have even an iota of sincerity, let them implement one-third reservation based on the present strength of legislatures,” he said.
“The opposition will jointly defeat any ulterior motives and designs of this government,” he added.
Samajwadi Party leader Ram Gopal Yadav questioned the legislative process and alleged political motives. “This historic Bill was already passed in 2023. Why was there a need to bring amendments again? Even after that, the earlier law was notified. So what was the need for discussion and voting?” he asked.
“The whole country knows this was done with elections in West Bengal in mind. When you knew you did not have a two-thirds majority, what was the point of bringing it? This shows there was a political angle, not genuine intent,” he said.
The Constitution Amendment Bill, which sought to operationalise women’s reservation and increase the strength of the Lok Sabha, was defeated in the Lower House on Friday as it failed to secure the required two-thirds majority.
While 298 members voted in favour of the Bill, 230 voted against it. Out of 528 members who voted, the Bill required 352 votes for passage.
According to the Bill, Lok Sabha seats were to be increased to a maximum of 850 from the current 543 to operationalise the women’s reservation law before the 2029 parliamentary polls, following a delimitation exercise based on the 2011 Census. Seats were also to be increased in state and Union Territory assemblies to accommodate 33 per cent reservation for women.
