Citizens and activists say that RERA officials are neither interested in launching a crackdown on defaulters, nor do they have powers.
The bid would require 66 per cent votes in its favour to make the cut and acquire the insolvent Jaypee Infratech.
Over one lakh homebuyers have been duped by various builders like Amrapali, Unitech, Jaypee, 3C, Ansals API, etc. In the National Capital Region alone.
Earlier this week, the CoC decided to put the revised NBCC offer on vote, with home buyers favouring the voting process, while bankers dissented.
'This clarific'This clarification has tightened the grip on taxpayers who intended to take benefit of lower taxes rates with the aid of deferred invoicing,' AMRG & Associates Partner Rajat Mohan said.
The effective pre-GST tax incidence on under-construction housing property was 15-18 per cent, which was reduced to 12 per cent with input tax credit (ITC) post GST roll out.
Unitech Group is involved in the construction of 74 housing projects for which around 17,000 home buyers have made investments.
The forensic auditors' reports pointed to instances where money moved from one company to another company of the Amrapali Group.
The forensic auditors said the funds were diverted through bogus bills, advance payments to directors and high ranking officials of the Amrapali Group and through ghost bookings of flats.
Dhoni said he has paid Rs 20 lakh for the property but only some work for the penthouse has been done and he has not been given the possession.
Many of whom have booked apartments in stalled projects of Amrapali, Logix group, Supertech, Jaypee Wish Town, etc, are currently paying both EMI and rent on these unrealised purchases.
Many who have booked apartments in stalled projects of Amrapali, Logix group, Supertech, Jaypee Wish Town, etc, are currently paying both EMI and rent on these unrealised purchases.
CBRE Chairman, India and South East Asia Anshuman Magazine said the MPCs decision paves the way for RBI to work flexibly, supporting overall economic growth by strengthening bank lending.
The protesters, which was supported by several resident welfare associations, insisted that the Real Estate Regulatory Act (RERA) be implemented in its true letter and spirit.