It can be estimated that almost 50 percent of all units to be built here were from these two builders. Acquiring more and more land and starting several projects simultaneously was perhaps one of the groups’ biggest mistakes.
By the time the companies reached their mid-stage, both were on the brink of bankruptcy and going into the…
Lakhs of people had invested in their projects and handed over their lifetime savings to these builders, of which about 30,000 units have been delivered. The remaining 70,000 units are still incomplete, with both the Interim Resolution Professionals (IRP) and the NCLT being called in to deliver the flats to their buyers.
Lawsuits were filed against the builders for failing to repay the huge loans from the banks and the market. The number of cases against them increased and gradually affected their work.
Huge walk in plane tickets from Delhi, Mumbai to Patna
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