The Supreme Court has stepped in to facilitate the implementation of the insolvency resolution plan for the stalled ‘Sushant Aquapolis’ group housing project in Ghaziabad, directing the Ghaziabad Development Authority (GDA) to process the necessary building-plan approvals without delay to safeguard the interests of homebuyers.
A Bench of Justice J.B. Pardiwala and Justice K. Vinod Chandran was hearing a plea by One City Infrastructure Pvt. Ltd., the successful resolution applicant, against the GDA. The project, developed by Ansal Urban Condominium Pvt. Ltd., had been stalled as the GDA had withheld renewal of the development licence and approval of the revised building plan despite the resolution plan having been approved under the Insolvency and Bankruptcy Code.
Following the Court’s earlier directions, the Uttar Pradesh Government and GDA took a decision to grant the necessary permissions, subject to compliance with applicable conditions. The GDA informed the Court that the site had been inspected and surveyed and that it would sanction the building plan once the requisite application was submitted, while considering the interests of the homebuyers.
The Court also addressed the issue of access to the project. The SRA pointed out that although a 24-metre-wide road exists around the plot, it was not functional due to lack of maintenance. It therefore agreed to reconstruct the road along three boundaries of the property without claiming ownership over it.
The Supreme Court directed the SRA to undertake the necessary work and thereafter approach the GDA for approvals. It clarified that access to the project would be provided at one point determined by the GDA and would not be exclusive to the SRA.
The Court appreciated the prompt response of GDA Vice-Chairman Nand Kishore Kalal and UP Housing and Development Authority Principal Secretary Guruprasad to its directions. The appeal was ultimately disposed of, while granting liberty to the parties to approach the Supreme Court again if any impediment arose in implementing the directions.
