Top Court lauds ED on issue of homebuyers

New Delhi: Supreme Court has lauded ED's efforts to restore attached properties to the victims of property fraud.

"We place on record our appreciation for the efforts made by the Directorate of Enforcement (DoE) in restoring the attached properties to secure the interests of genuine and innocent homebuyers," a bench headed by justice Sanjay Kumar said in an order made available on Tuesday.

In the case, ED has successfully restituted the unsold inventory of 354 flats, 17 commercial units and two plots at Project Royal Rajvilas in Udaipur, with present market value of about ₹175 crore, to the Successful Resolution Applicant of M/s Udaipur Entertainment World Private Ltd for the ultimate benefit of genuine homebuyers who had purchased units in the said project.


The restitution brings an end to the plight of 213 innocent homebuyers who had been suffering for over 12 years and has paved the way for completion of the project and finally handing over the completed units to these homebuyers.