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A year of some brisk move for one, staggered progress for the other. The year panned out differently for two sets of homebuyers who had both pinned their hopes on the National Company Law Tribunal (NCLT) for a resolution of their pending flats.
Amrapali, with more than 30,000 flats to deliver in its housing projects, appeared to have found a resolution with the intervention of the Supreme Court and the appointment of court receiver R Venkatramani. Following the court’s order, construction at its pending projects took off, though lack of liquidity led to some interim delays.
Funds were infused to grease the wheel and buyers, too, started paying up their pending instalments.