Recognizing the difficulties faced by troubled buyers who are circling the court despite not getting the flat despite paying full money by booking their houses in India, the Supreme Court has asked the Centre (union) to come up with a similar proposal to protect the interests of all flat buyers.

This issue is related to millions of home buyers. The court cannot do anything in the proceedings of the insolvent law, but the central government can suggest protecting the interests of home buyers other than this and the court may consider it. The court will hear the case again on July 11.

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A bench of Justices A M Khanwilkar and Dinesh Maheshwari made the remarks during a hearing in the Jaypee Infratech home buyers case. The court said that this is not just Jaypee's case, but also in the case of many other builders, flat buyers' money is stuck. The court has ordered the Additional Solicitor General (ASG) Madhavi Diwan, appearing for the Central government, to submit a proposal within two days.

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According to media reports, Jaypee Infratech's flat buyers have filed an application in the Supreme Court seeking the details of the proceedings in the insolvency law against Jaypee. Also, the court will protect the interests of flat buyers, as according to the insolvent law, if Jaypee is declared bankrupt, the banks will take their money first.

Flat buyers will not get anything. During the hearing on the matter, ASG Madhavi Diwan said that the appropriate authority could be the resolution professionals or the concerned banks to respond to the application.

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