SC orders CBI probe into Supertech builder projects in NCR
New Delhi (PTI): Observing an "unholy" nexus between the banks and developers, the Supreme Court on Tuesday directed the CBI to register a preliminary inquiry into projects of realty major Supertech Limited in NCR.
A bench of Justices Surya Kant and N Kotiswar Singh took into account an affidavit filed by CBI and directed the UP, Haryana DGPs to give a list of DSPs, inspector, constables to the agency to constitute a special investigation team (SIT).
The top court further directed the CEOs/administrators of Greater Noida Authority, Noida Authority, secretary, Ministry of Housing and Urban Affairs, the Institute of Chartered Accountants of India and RBI to notify one nodal officer from among their senior-most officers within a week to extend necessary assistance to the SIT.
The apex court previously said thousands of homebuyers were affected by the subvention scheme, where banks paid 60 to 70 per cent of the home loan amount to the builders without projects being completed within the stipulated time.
The apex court had then ordered the CBI to submit a roadmap on how it planned to unravel the "builder-banks nexus" which duped thousands of homebuyers in the NCR and proposed to go into the root of the matter.
The top court was hearing a batch of petition filed by several homebuyers, who booked flats under subvention plans in various housing projects in NCR region especially Noida, Greater Noida and Gurugram, alleging that they were being forced by banks to pay EMIs despite no possession of flats.
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PM unveils Rs 10,601-cr fertiliser plant in Assam, unit to be commissioned by 2030
Namrup (PTI): Prime Minister Narendra Modi on Sunday laid the foundation stone of a Rs 10,601-crore brownfield ammonia-urea plant in Dibrugarh district of Assam.
The facility – Assam Valley Fertiliser and Chemical Company Ltd (AVFCCL) – will have an annual urea production capacity of 12.7 lakh metric tonnes and the project is scheduled for commissioning in 2030.
The PM, on the last day of his two-day Assam visit, laid the foundation stone of the plant here, located within the existing premises of the Brahmaputra Valley Fertiliser Corp Ltd (BVFCL).
In July this year, AVFCCL was incorporated at Namrup in Dibrugarh. The projectwas approved by the Union Cabinet in March this year.
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AVFCCL is a joint venture among the Assam government, Oil India, National Fertilisers Ltd (NFL), Hindustan Urvarak & Rasayan Ltd (HURL) and BVFCL.
Modi arrived in Assam on Saturday on a two-day visit, during which he unveiled multiple projects worth Rs 15,600 crore, months before the assembly polls next year.
"The AVFCCL Namrup ammonia-urea project is being established as a modern, energy-efficient, world-class fertiliser complex with an annual urea production capacity of 12.7 lakh metric tonnes, at an estimated investment of Rs 10,601 crore," the company said in a statement.
It said this upcoming facility will play a pivotal role in meeting the fertiliser requirement of Assam, the northeast region, West Bengal, Bihar, Jharkhand and eastern Uttar Pradesh.
"Beyond fertiliser security, the project is expected to act as a major catalyst for industrial growth, employment generation and regional economic development, creating hundreds of direct jobs and thousands of indirect employment opportunities," AVFCCL said.
The company also asserted that the foundation stone laying ceremony marked the revival of Namrup's legacy as the cradle of India's gas-based fertiliser industry, and will herald a new chapter of growth, sustainability and agricultural prosperity for the entire region.
The 'Bhoomi Poojan' took place in presence of Assam Governor Lakshman Prasad Acharya, Chief Minister Himanta Biswa Sarma along with other ministers, MPs, MLAs, senior officials and representatives of stakeholder organisations of the new company.
The state-run BVFCL is the only urea-making facility in the eastern India. The facility started production in January 1969, as a part of the Hindustan Fertiliser Corp Ltd (HFCL).
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BVFCL was formed in April 2002 after hiving off the Namrup Unit of HFCL. It is under the administrative control of the Ministry of Chemicals and Fertilisers, with 100 per cent shareholding by the Government of India.
It is touted to be the first factory of its kind in India to use associated natural gas as basic raw material for producing nitrogenous fertiliser.
The company has played a crucial role in the development of the northeastern region and providing farmers urea fertiliser, which is produced from cheap and locally available domestic natural gas, officials said.
As per the official website of the Department of Fertilisers, the company is now producing neem-coated urea and two organic fertilisers – liquid bio fertiliser and vermi compost under the brand name of 'Mukta'.
BVFCL has two operable ammonia urea units at Namrup, with small capacities, which were established in 1976 and 1987.
