- (1.) We have heard Sri Siddharth Dave, learned senior counsel for the applicant, learned Amicus Sri Gaurav Agrawal, Ms. Meenakshi Arora, learned senior counsel for the concerned home buyers, Sri R. Venkataramani, learned senior counsel for the State of Kerala and other learned counsel appearing in the matter.
(2.) Pursuant to our order dated 24.02.2021, M/s. Jain Housing and Constructions Ltd. has deposited a sum of Rs.6.12 crores as the first installment. Sri Dave submits that the balance amount under the aforesaid order shall be positively deposited within the stipulated time. He submits that I.A. may be allowed and the attachment be lifted and the RERA Authorities may be directed to register fresh projects of the applicant.
(3.) Sri Gaurav Agrawal, learned Amicus submits that apart from the Rs.6.12 crores deposited under the order dated 24.02.2021, an amount of Rs. 2 crores has been deposited earlier by M/s. Jain Housing and Constructions Ltd. Rupees 1.50 crores is available out of the deposit as Rs. 50,00,000/- has been paid by the Committee to the State Government for expenses. The total amount deposited may be disbursed on pro rata basis to the flat owners and agreement holders of M/s. Jain Housing and Constructions Ltd. which will meet approximately 47% of their dues.;