Ask NBCC to start work on Wish Town project: Buyers to SC – ET RealEstate

NOIDA: A group of Wish Town buyers urged the Supreme Court on Wednesday to direct the National Company Law Appellate Tribunal (NCLAT) to persuade state-run NBCC to immediately start construction in the Wish Town project and complete around 20,000 pending flats at the earliest.

The court has issued notices to the NBCC and other stakeholders in the project, seeking their responses.

The next date of hearing is on August 6.

According to buyers, there is a complete standstill at the project site. “Buyers are completely frustrated with the non-action by NBCC. Even after the conditional nod by NCLAT, the state-run construction company is yet to start work. Now that the Supreme Court will start hearing the case again, it could take a long time for a decision to arrive. So, we are simply losing time,” said Jaishree Swaminathan, a Wish Town buyer.

After prolonged insolvency proceedings of Wish Town, the NCLT had given the construction rights for the pending flats to the NBCC, but the company moved the NCLAT, the appellate body, against the NCLT, claiming their resolution agreement was dishonoured with the addition of extra financial liabilities.

The project has been under the supervision of an interim monitoring committee since April 23.

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