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Amrapali : Homebuyers Should Not Be Under The Impression That They Can Enjoy Benefits Without Paying Dues, Observes SC As It Reserves Orders On Various Issues

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first_imgTop StoriesAmrapali : Homebuyers Should Not Be Under The Impression That They Can Enjoy Benefits Without Paying Dues, Observes SC As It Reserves Orders On Various Issues Nilashish Chaudhary27 May 2020 4:23 AMShare This – xThe Supreme Court on Wednesday orally remarked that the homebuyers of the stalled-Amrapali project should not be under the impression that they can enjoy the benefits without paying the dues.This was said by Justice Arun Mishra, who was heading the bench hearing a host of issues connected with the project.Senior Advocate M L Lahoty, appearing for the homebuyers, submitted that they should not…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Wednesday orally remarked that the homebuyers of the stalled-Amrapali project should not be under the impression that they can enjoy the benefits without paying the dues.This was said by Justice Arun Mishra, who was heading the bench hearing a host of issues connected with the project.Senior Advocate M L Lahoty, appearing for the homebuyers, submitted that they should not be made to pay anymore at this point towards the construction. Referring to previous directions whereby the Court had directed the completion of the construction in a time bound manner, the counsel submitted that the homebuyers are entitled to compensation on account of delay. In response, Justice Arun Mishra observed :”Homebuyers should not be under the impression that without paying they will enjoy benefits of the property. Let us do something pragmatic in a step wise manner, for now. Do not invite our wrath, Mr Lahoty”.Lahoty then clarified that he was not suggesting that the buyers would enjoy benefits without paying due consideration, but that they had already been aggrieved after putting in a great deal of money.ML Lahoty- at no point did I suggest that homebuyers will enjoy without paying.#AmrapaliFlatBuyers #Amrapali— Live Law (@LiveLawIndia) May 27, 2020Earlier in the hearing, the Enforcement Directorate informed the bench that it had attached accounts of JP Morgan, in compliance with the Top Court’s previous orders.Appearing for JP Morgan, Senior advocate Mukul Rohatgi confirmed the same and contended that such attachment is illegal. Clarifying that JP Morgan India, whose account was attached yesterday for the recovery of Rs. 187 crore, had no financial dealings with Amrapali, Rohatgi challenged the order directing such attachment.”I’m here for JP India…I wish to submit that the attachment is blatantly illegal, as JP India does not have one Penny’s worth of investment in Amrapali…I’m independent, and have no dealings with them”, submitted the former Attorney General.Justice Mishra however was of the opinion that JP Morgan is a global company with branches across the world. Since the Court is concerned with the company, its branches would be taken into account, stated Mishra J.Rohatgi went on to refer to a previous order of the Supreme Court wherein transaction details of JP Morgan Singapore and JP Morgan Mauritius were specifically sought, in order to trace their dealings with Amrapali. The responses of these two Branches were also cited to show that all financial dealings with Amrapali were attributable to them and not to JP Morgan India.”I am JP Morgan India and have nothing to do with these monies. The money attached was invested by them. In fact, even they did not invest their own money, it came from investors worldwide and JP Morgan invested these monies in Amrapali”, he argued.Rohatgi further contended that the forensic auditor had not even heard JP India before taking action.The Bench will now hear further submissions on this objection from Rohatgi next Wednesday.The Court also asked Senior Advocate Harish Salve, appearing for SBI Cap, to seek instructions from his client with regard to releasing funds towards the commencement of construction work. This aspect will also be considered by the bench on next Wednesday.Upon Salve’s request, the Bench agreed not to pass any orders regarding the same till then.The bench, also comprising, Justice U U Lalit, told Salve “there is no private builder now; its the receiver who is handling the projects and NBCC is doing the construction”.The Court next turned its attention to the National Buildings Construction Company(NBCC), the government enterprise entrusted with completion of pending Amrapali projects. The Court asked their counsel, Senior Advocate Siddhartha Dave, to submit a flow chart about their plan of action for the next few months.Justice Lalit emphasized that the flow chart must detail the amount of funds available with NBCC, the finances they would require over the next three months, and how they planned to raise more funds if required.Touching upon the issue of unsold inventories, Lalit J said,”How do you plan to finance your activities for the next couple of months? If there are unsold inventories, it would be ideal to sell them off. If those units need to be sold, there are two ways to go about it- either you do it or we ask an agency. Let us know what you think…come back to us with this in a week.”The next issue that was notably taken up was with regard to the rate of interest being levied by Noida and Greater Noida authorities. Justice Mishra urged Senior advocate Sunil Gupta to impress upon the authorities that they needed to be more accommodating and relax the rates to an extent.”This sector will die down if you continue to remain like this. You have to give some sort of relaxation, otherwise not one but all projects will collapse”, cautioned Mishra J. Without commenting on the pending petitions challenging the levying of interest on loans during the RBI stipulated moratorium, Justice Mishra asked Gupta to consult with the Government and see what they were willing to do about interest rates being slashed in this instance.The Bench went on to pull up the Government auction platform, MSTC for filing an affidavit wherein it was stated that they weren’t in a position to do much regarding the auction of certain attached properties.Justice Mishra came down heavily on this and remarked-“We should tell you to go then, and impose punishment. This is not the way to file an affidavit……We will not spare anyone like this.”After hearing several Intervention Applications in the matter, the Bench reserved its orders on three specific issues.These issues include:The financing of projects by State banksWhether to sell off surplus FARs (Floor Area Ratio) to raise funds or first return them to the Noida/Greater Noida authorities, andWhether to grant additional compensation to the Greater Noida authorities.On July 23 last year, the SC had ordered cancellation of Amrapali Group’s registration under RERA and ordered a probe by the ED into allegations of money laundering, in pleas filed by several homebuyers seeking possession of around 42,000 flats booked in Amrapali Group projects. The apex court had then directed the ED that the investigation should be carried out impartially, properly and expeditiously within a period of three months. The Court also directed the NBCC to take over the stalled project.On May 22, the bench had permitted ED to attach the properties of JP Morgan.Click here to download OrderRead OrderNext Storylast_img read more

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Olives Et Al seeks more partners, while opening third deli store with Wyevale

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first_imgOlives Et Al is to open a third deli and bakery concept this month, with plans for more sites in high streets and department stores.The Dorset-based company has launched two deli sites, Loaf & Larder, in a deal with Wyevale garden centres. It will open one more this month and has “potentially” another three in the pipeline. It will also look to open more with other partners.This comes as the company this week launched its gluten-free pastry powder packs for home bakers, after purchasing a gluten-free pastry company nine months ago.Simon Hurley, managing director of the business, said: “We don’t want to be pigeon-holed as an olive company.“We entered a pie made with the new pastry mix into a general pie category in a competition and won. Paul Hollywood was judging and he couldn’t believe the pastry was gluten-free.”He also said the company was talking to other firms regarding partnerships, with a view to extending the number of its retail shops, and was hoping to open in high streets and department stores.He continued: “By the end of the year we are hoping to have eight to nine shops, depending on the partners we find.”The company opened its first Loaf & Larder store in Cheddar Garden Centre in July last year. The shop prepares pies, quiches and breads fresh on the site.last_img read more

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Governor Shumlin announces additional assistance package for towns

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first_imgGovernor Shumlin was joined by Treasurer Beth Pearce and other state leaders today to announce an Irene recovery package for municipalities struggling with the effects of the tropical storm. ‘We recognize that the disaster is putting a strain on local governments,’ Shumlin said.  ‘This assistance package will help ensure that they have the support they need to emerge stronger than before the storm hit.’The financial package includes: ·         $24 million in advanced State payments: To assist towns struggling with immediate cash flow needs, the State will advance payments of key state and federal programs.   $6.2 million in town highway funds have been delivered this week instead of on October 15.  $12.3 million in Current Use payments will be advanced this week rather than on November 15.  $5.8 million in Payment in Lieu of Taxes (PILOT) payments will be delivered shortly, instead of by October 31.  This is not new revenue to municipalities, but faster revenue, and will help ease short-term cash needs. ·         Local bank loans:  Vermont’s local banks will be offering loans to communities in need with favorable terms.  ·         Municipal Bond Bank loans: The Municipal Bond Bank has initiated a program to assist towns with low-interest loans to finance response and recovery efforts.  In the short term, the Bond Bank will provide stop-gap funding to local banks as needed and may provide direct loans in the future. ·         FEMA Community Disaster Loan (CDL): The State has requested that FEMA initiate its CDL program to assist towns with low-interest loans. ‘The assistance we are announcing today will help the municipalities hard hit by Tropical Storm Irene,’ said Treasurer Beth Pearce.  ‘This package provides a series of options for communities; they can opt for all, none or part of the options beginning with short-term financing all the way through long-term bonding. The banks are on the ground providing short-term financing and the State is advancing payments to municipalities to provide some relief for their short-term cash needs.’ Towns are also struggling with the massive impact that Irene had on the municipal transportation infrastructure.  During the first week of Irene Emergency Response Vermont officials at VTrans realized the extent of damage to local roads and mobilized additional resources to aid towns.  VTrans reached out to the Regional Planning Commissions and the Vermont League of Cities and Towns for assistance.  Vermont’s 11 regional planning commissions (RPCs) formed a State Resource Coordination Center with the mission of helping towns with not only local highway recovery, but also other forms of storm-related assistance. Regional Commission staff have been assessing damage to the local system and today report that Irene washed away more than 1950 local roadway segments, undermined more than 917 culverts, and damaged more than 200 bridges owned by municipalities.   Today, 184 roads and 94 bridges, within the municipal system remain closed.  The regional commissions launched their emergency efforts in coordination with VTrans with the goal of helping towns get the majority of their roads open, safe and passable by winter. ‘The goal of our efforts is to work with towns face that continued stress and mobility challenges, and to help them get back on their feet and establish access through emergency repairs,’ said VTrans Secretary Brian Searles. Road assistance for towns includes: ·         Unmet Emergency Needs Assessment: VTrans has asked towns to request assistance for any unmet emergency needs.  Unmet emergency needs include closed bridges, failed roads, and impassable roads that need to be made safe and passable before winter.  Towns should submit that information to the Regional Commissions as soon as possible and VTrans will work to coordinate additional resources to help towns. ·         VTrans has found that there is a shortage of bridge parts nationwide due to the tremendous need brought on by weather all over the country.  To ensure that towns receive the temporary bridges they need before winter, VTrans will serve as a clearinghouse and source of information on bridge acquisition and a resource for ordering these structures and parts where needed. ·         VTrans and the RPCs will create and update town maps depicting open and closed town roads so the traveling public can plan accordingly. These maps are being used by customer service representatives at VTrans’ Irene Storm Call Center, which can be reached at 1-800-VERMONT. They are also available to the general public at the agency’s website at www.aot.state.vt.us(link is external). To view them, users should activate the ‘local roads and bridges’ section of the Google map.  Smart phone applications of the Google map are also accessible on the Vtrans website. ·         Associated General Contractors (AGC) Clearinghouse: AGC is coordinating Vermont contractors available to help towns repair damaged roads and bridges. This is the principal resource for towns that need outside contracting for rebuilding. ·         Public Assistance (PA) Teams: State & FEMA PA teams are on the ground assisting communities with paperwork needed to obtain reimbursement for FEMA-eligible costs. ‘Vermonters have responded to this disaster with determination, tenacity and hard work,’ said Governor Shumlin.  ‘It is in large part due to the indomitable spirit of Vermonters that our recovery is going so well.  All recovery is local and this package will help ensure that our communities have the support they need.’ ###last_img read more

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UCL: Perfect Rodrygo hat-trick helps Real Madrid win 6-0

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first_img Source: BBC Brazilian forward Rodrygo announced himself on club football’s biggest stage with a ‘perfect’ hat-trick in Real Madrid’s 6-0 defeat of Galatasaray.The 18-year-old became the second youngest player to score a Champions League treble, behind only Real legend Raul.He has already been labelled the “new Neymar”, having followed in the Paris St-Germain star’s footsteps by moving from Brazilian club Santos to Spain.Outside of South America, little was known about the 5ft 9in youngster – who is the the same height as Neymar – before his summer switch to Real.Since then, Rodrygo has scored five times in his first six appearances for the club in all competitions.“Hearing the Bernabeu singing my name is a dream come true,” Rodrygo said. “I’m so happy, it has been a joyous night but I must try and stay calm.”The Bernabeu were saluting the teenager as early as the fourth minute when he clinically opened the scoring, left-footed, from his fellow countryman Marcelo’s pass.He got his second three minutes later as he headed in superbly from another Marcelo cross, becoming the first player to score twice in the first seven minutes of a Champions League game.He was denied the chance of a quickfire hat-trick shortly afterwards, when captain Sergio Ramos stepped up to score a penalty after Steven Nzonzi had fouled Toni Kroos.But Rodrygo provided an assist for Benzema on the stroke of half-time and the Frenchman returned the favour in second-half stoppage time.The teenager – whose full name is Rodrygo Silva de Goes – completed his ‘perfect’ hat-trick as he poked in with his right foot to cap a crushing 6-0 win.last_img read more

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George W Bush And Michelle Obama Join African First Ladies In Tanzania

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Sarah Duchess Of York Helps Open Teenage Cancer Trust Unit

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first_imgSarah, Duchess of York and world snooker players Judd Trump and Jack Lisowski, have officially opened at Bristol Haematology and Oncology Centre (BHOC) the first specialist Teenage Cancer Trust unit in the UK’s South West for local young people with cancer.Sarah Ferguson helps open first specialist Teenage Cancer Trust unit in the South WestCredit/Copyright: Teenage Cancer TrustEach year, over 200 young people from Bristol, Somerset, Wiltshire, Gloucestershire, Devon and Cornwall, are diagnosed with cancer. Across the UK, seven are diagnosed every day. Traditionally treated either on a children’s ward or on an adult ward often alongside elderly patients, young people can feel extremely isolated during treatment, some never meeting another young person with cancer. Being treated alongside others their own age, by experts in teenage and young adult cancer care, can make a huge difference to their experience.Thanks to fundraising support from local communities, a volunteer committee chaired by Lady Wills, Trust funding from The Garfield Weston Foundation and the John James Bristol Foundation and generous help from corporate partners Home Retail Group, The Football Association, MandM Direct and Societe Generale, Teenage Cancer Trust raised £2.5million to open this new eight bed unit. Named Area 61 by the patients and taking ten months to build, the state-of-the-art unit offers 16 to 24 year olds a place to receive treatment where they can feel at home.Long term patron of Teenage Cancer Trust, Sarah, Duchess of York, opened the unit and said: “Teenage Cancer Trust is the most incredible charity, helping young people stay teenagers first, cancer patients second. I’ve been a patron for over 20 years and I’ve seen it grow and lead the way in the treatment of teenage and young adult cancer. This new unit will help so many local young people and their families and friends.”The unit also gives young people the best possible care, support and access to treatment via a team of specialist doctors, nurses and youth support staff who are all experts in teenage and young adult cancer care. Teenage Cancer Trust funds the lead nurse and youth support coordinator roles within this team. The youth support coordinator helps young people share their experiences and fears with each other, encourages them to socialise by arranging activities and outings and enables them to participate in a peer support group.Area 61 has two floors, with one floor dedicated to in-patients with five en-suite bedrooms with sofa beds for family and friends to stay overnight. It also has a large social area where young people can play pool, listen to music, play games consoles or watch films on the latest Smart TVs. There’s also a kitchen and dining space where meals can be cooked at all times of day and night, as well as a lounge for family members to take a break. The other floor is for day patients, featuring three treatment pods, two consulting rooms, a procedure room, a social space which includes entertainment and gaming consoles and a waiting area with cafe.A group of young people with cancer were involved in the overall design of the unit and worked with local street artist Dave Bain to develop the wall art. James Lusher, the architect also consulted young people on the furniture designs and colours.Teenage Cancer Trust ambassadors Jack Lisowski from Cheltenham and Judd Trump, from Bristol, also helped officially open the unit and have been supporting the local fundraising appeal. It’s a cause close to their hearts as at 16 Jack was diagnosed with Hodgkin’s lymphoma. Jack said: “It’s a fantastic moment to be here today and the unit is so much better than we could have ever imagined. Teenage Cancer Trust is an amazing organisation and I only wish I had benefitted from being treated here.”Siobhan Dunn, Chief Executive of Teenage Cancer Trust said: “This is an incredibly exciting moment in Teenage Cancer Trust’s history as it’s our first specialist unit in the South West. It’s a remarkable facility and we are very much hoping that local communities and businesses will continue supporting our work here as we need to raise a £1,000 a day to maintain the unit, fund specialist staff and continue our free cancer awareness sessions in schools across the region.”Jamie Cargill, Teenage Cancer Trust Lead Nurse at University Hospitals Bristol NHS Foundation Trust (UH Bristol) comments about today’s milestone: “It is taken a significant team effort to get to this point and credit must be given to all those who have been involved. Even after just a few months we can already see how the new facilities are benefiting our patients and their families. By helping us build this amazing unit, our local and regional supporters have done something very special for young people with cancer and I hope they feel as proud of the unit as we all do.”Dr Alison Cameron, Macmillan Teenage and Young Adults Lead Clinician at UH Bristol, said: “Over the past five years UH Bristol has built a team to care for and support teenage and young adult patients with cancer across the South West. The opening of this unit enables that team to maximise the support they give to patients and their families, whilst providing patients with as “normal”, least hospitalised, physical space as possible. This helps to reduce the impact of the cancer on the patient.”The unit opening marks the final phase in a multi-million pound investment the charity has made in young people’s cancer services across the South West. In December 2012, Teenage Cancer Trust lent its design expertise to enhance a brand new hospital ward at Bristol Royal Hospital for Children for 11 to 16 year olds with a variety of complex health issues including cancer. The charity has also adopted five teenage and young adult specialist nurses who operate from various shared care hospitals across the South West. By doing so, this provides an excellent model of care for 15-24 year olds no matter where they live in the region.Teenage Cancer Trust is now appealing to local communities to continue supporting its work with young people with cancer. The charity relies on donations and a £1,000 a day needs to be raised to maintain the new unit, fund specialist staff and support the free cancer awareness sessions that are delivered in schools, colleges and universities across the South West.Find out more here.Source:Teenage Cancer Trustlast_img read more

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