Justice for LAVASA CORPORATION LTD HOME BUYERS- LOOPHOLES IN NCLT ACT

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Lavasa Corporation Limited planned the first hill station city post independence. Many middle class families invested their hard earned money on the hope of enjoying the retired life on the first hill station post independence. Many of them took loans from bank to finance their homes. However when after lapse of 10 years when the home buyers did not receive the possession they approached the MAHARERA & other consumer forums. Home buyers started getting orders in their favour. Meantime there were apprehension of routing of funds by the promoters of LAVASA CORPORATION LTD. In order to save their skin they stage managed and started the NCLT PROCESS through one of the creditors for a small sum of 2.3 crores. The promoters had sensed that FIR will be filed against them and with the NCLT PROCESS being started there will be amnesty from all the laws. The NCLT PROCESS should end in 270 days but inspite of 2 years the process has not ended. The promoters are enjoying on the hard earned money of homebuyers who have to pay the EMI of loans with interest. During the process the home buyers cannot appproach the HIGH COURT/SUPREME COURT. Many of the home buyers have retired and their dream shattered. We appeal to the PRIME MINISTER, CHIEF MINISTER OF MAHARASHTRA AND RESPECTIVE AUTHORITIES to interrupt the process and help the home buyers to get their homes or alternatively to get the money back with interest thereon. Also to order the Forensic Audit to conclude the diversion of funds.