LUCKNOW: The Lucknow bench of Allahahabad High Court has dismissed a bunch of petitions filed against ANS Constructions Ltd and its subsidiary M tech Developers, in a case related to developing a housing scheme in the state capital, according to a press release issued by the company.
In its order delivered on July 4, 2013, Justice Umanath Singh and Dr Satish Chandra dismissed all petitions filed by Rajiv Panjwani and others stating that it was a private dispute related to purchasing of plots as the land for the scheme was not provided either by the state government or the Lucknow Development Authority (LDA) instead the real estate developer purchased it from his own sources.
The developers had invited the customers to purchase plots in the proposed site which was named as M-Tech City, Lucknow. Few plots were booked in 2007 but later the developer stopped fresh bookings due to the cancellation of license, as part of the land was used by the government for setting up the Sewage Treatment Plant (STP).
The company's spokesperson said that the High Court directed that in the given circumstances, the developers had agreed to provide flats to their investors at 10 per cent concessional rates instead of plots or refund their entire money along with 12 per cent interest which seemed logical.