Lotus 300 Project: SC Relists Case For December, Allows ED To Investigate

The Enforcement Directorate (ED) Inquiry into the Directors of Hacienda Project Private Limited (HPPL), The Company behind 'The Lotus 300 Housing Project' in Noida's Sector 107, has been subject to modifications to the June 11 judgment issued by the Supreme Court.

The Top Court stated in its ruling dated August 30 that while it has halted the
Allahabad High Court's direction for an ED Investigation into the firm directors, further Legal Measures Pertaining to the matter are still permitted. The stay does not prevent or hinder any authority from acting in compliance with the law.

According to the bench of Justices Sanjeev Khanna and Sanjay Kumar.
"We have Suspended the Implementation of Paragraph 114 of the challenged
Judgment, as per our ruling dated June 11, 2024. The modified bench order stated, "The stay does not, however, bar or prohibit any authority from proceeding in accordance with law."

With particular reference to paragraph 117 of the contested Judgment, “It is stated that there is non-compliance with the direction made by this Court in the order of 11.06.2014. Within four weeks after the date of service of this order, the New Okhla Industrial Development Authority (NOIDA) is required to file an Affidavit in this Court explaining whether or not it has followed the directive provided in paragraph 117 of the Impugned Judgment (Allahabad HC February ruling). Should it not have conformed with the same, the cause shall be stated. 2 SLP(C) Nos. 12784-12786/2024 will continue to operate under an interim order, pursuant to the adjustments made today, until the next hearing date”,

According to the order, The SC re-listed the case for the week starting on December 9, 2024. Lokesh M. the Chief Executive Officer of the Noida Authority, declared, "We will file the reply in this case within the given time frame as per the court directive."

The Noida administration and developers filed review petitions in the high court after the February 2024 order of the Allahabad High Court, but they were denied. The Authority claimed that the developer's incapacity to complete registries in the Lotus 300 project stemmed from unpaid debts totalling more than ₹166 crore.

In the meantime, the ED submitted an application requesting to Intervene in the Supreme Court Case, claiming to have Conducted An Investigation in response to the High Court's February Ruling. The development company stole money from Consumers, and the Promoters and directors defrauded several purchasers in multiple projects by employing the same scheme, according to the ED's Preliminary investigation. We tried contacting the developers several times, but they were not available to comment on the problem.

Author:
Aarya Kadam (News Writer) is a final-year BBA student and a creative writer with a passion for current affairs and legal judgments.