Dear Friends, Valued Supporters and Fellow Victims, The attachment is a very good development and direction for all of us tortured and troubled for years. Assocham strongly proposes an ordinance to bring home buyers at par with banks in case of insolvency declared by builders. After all it is open secret that banks due to lack of due diligence or some times ulterior motives by corrupt officials extend loans which then cant be recovered-in my long career I have seen loans disbursed by IDBI bank to private companies doing flourishing business and then pocketing all investors money(IPO) and declare themselves bankrupt-a recent case in the electronics industry by a Delhi based Pvt co is a glaring example. Several more notorious builders like Amrapali, Unitech, Emmar MGF and a host of others(primarily in NCR) are waiting to do so and extricate themselves. But I would say that all is not lost yet. I earnestly request all buyers to unite in this hour and escalate to Judiciary and appropriate industry bodies. Sure it sucks up your time but you have no choice really other than willing to look the other side and watch your life time savings vanish. Pl continue the pressure, highlight everywhere and watch things slowly fall in place. After all we are more than 100 K+ families stuck up and simply looting us is not possible. I still request you to look upto and engage with Govt executive to find a solution.