
Elgar Parishad-Maoist links case: SC to consider listing bail plea of Surendra Gadling
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The Supreme Court on Friday took note of repeated adjournments and assured early listing of the bail plea of advocate Surendra Gadling accused in the Elgar Parishad-Maoist links case A bench comprising Chief Justice B R Gavai and Justices K Vinod Chandran and N V Anjaria was urged by his counsel and senior advocate Anand Grover, who said his client had been in jail for "6.5 years"."The bail plea has been adjourned 11 times in the Supreme Court," Grover added.The CJI said, "We will list it."On March 27, a bench of Justices M M Sundresh and Rajesh Bindal adjourned the bail hearing of Gadling and activist Jyoti Jagtap arrested in the case.It also deferred the petition filed by the National Investigation Agency (NIA) challenging the bail granted to activist Mahesh Raut.Raut was given bail by the Bombay High Court but the order was stayed after the NIA sought a stay on the verdict to challenge it before the apex court.Gadling was accused of providing aid to the Maoists and allegedly conspiring with various co-accused, including the ones absconding in the case.He was booked under various provisions of the Unlawful Activities Prevention Act, and the IPC and the prosecution claimed Gadling provided secret information about government activities and maps of certain areas to underground Maoist rebels.He reportedly asked Maoists to oppose the operation of Surjagarh mines, and instigated several locals to join the movement.Gadling is also involved in the Elgar Parishad-Maoist links case relating to the alleged provocative speeches delivered at the Elgar Parishad conclave held in Pune on December 31, 2017. The police claimed the speeches triggered violence the next day near the Koregaon-Bhima war memorial in Pune district.The high court had said Jagtap was an active member of the Kabir Kala Manch (KKM) group, which during its stage play at the Elgar Parishad conclave held in Pune on December 31, 2017 gave not only aggressive, but highly provocative slogans."We are of the considered opinion that there are reasonable grounds for believing the allegations or accusations of the NIA against the appellant (Jagtap) having conspired, attempted, advocated and abetted the commission of a terrorist act as prima facie true," the court had said.According to the NIA, the KKM is a front organisation of the Communist Party of India (Maoist).The high court had dismissed the appeal filed by the activist-cum-singer challenging a February 2022 order of a special court refusing her bail.The 2017 Elgar Parishad conclave was held at Shaniwarwada, an 18th-century palace-fort located in the heart of Pune city.
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The builder offers to pay interest only for a specified number of years,' indicates Adhil Shetty, CEO, Beyond this period, the buyer is obligated to make EMI payments even if the project is not completed. Rathi adds, 'Builders also charge a much higher price for houses if bought through a subvention scheme. This hidden cost defeats its purpose.'As many buyers have discovered, delays in under-construction houses are a common occurrence in India. Thousands of homebuyers across Delhi/NCR, Mumbai and Pune have fallen victims to this. Data analytics firm PropEquity found in 2024 that one in five under-construction houses, totalling over 5 lakh units, remained undelivered as 1,981 projects across 44 cities were stalled in the preceding eight the remaining four under-construction houses were delivered after a substantial delay of 3-4 years. 'Construction delays are a standard feature of Indian realty for several reasons. This means that the subvention plan leaves borrowers high and dry in case of a serious project delay,' remarks be sure, the RBI had banned banks from entering into such arrangements. It had also barred lenders from making upfront disbursements to builders in underconstruction projects. Loans must be disbursed in tranches linked to construction progress. However, several NBFCs and fintech platforms continue to tie up with builders to offer variants of such construction-linked plan (CLP), a staple offering among builders, has proven to be a mirage. Under this arrangement, the buyer pays in tranches, linked to construction milestones. The builder receives payment only when the work is completed, supposedly reducing the risk for buyers. Surely, it is in the builder's interest to execute the project on time?Not quite. Experts point to a critical flaw in construction-linked plans. These are often not aligned with the builder's cash flow. 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If Project A is delayed or abandoned, the builder has still made his in five under-construction houses were undelivered across major cities and towns in are notorious for gaming this arrangement. A builder claims a milestone (say, 10th or 15th slab) is complete even when actual work is pending. If a lender is involved, they may furnish forged completion certificates to get the lender to release the next tranche. This results in front-loaded payments even when the construction activity lenders carry out due diligence while choosing builders? Surely banks would not want any erosion in the value of their collateral. On the contrary, lenders have been lax in this regard. Many banks don't lend to builders (other than grade A) directly, given the risk in the real estate business. Instead, they offer home loans to individual buyers, which indirectly fund the builder. 'Essentially, the consumer is financing the builder in the name of 'construction-linked plan',' observes Singh. 'So a developer, to whom no bank lends money, can actually get easy finance from the buyers at 0% interest, while the borrowers pay the EMIs with interest,' he system has conveniently kept the builders well fed. In many cases, builders and lenders have pre-arranged cosy tieups. Banks sanction loans for new projects without batting an eyelid, even if these are missing clearances from local authorities. Some lenders may skip physical inspection of construction progress entirely, relying on the builder's documents. This lack of hygiene checks is because banks have no real skin in the game, say experts. How so? If the builder falters and the house (collateral) value shrinks, the bank can recover its value through auction and yet hold the homeowner liable for the outstanding builders and lenders have led homebuyers into a storm. 'Builders have often exploited subvention schemes to attract buyers without ensuring timely delivery. In many cases, they were used to mask delays or financial instability. Banks, too, have played a role by approving loans without adequate scrutiny of the project's viability, especially during periods of high market activity,' remarks Ravi Shankar Singh, Managing Director, Residential Transaction Services, Colliers India. 'Builders used these schemes to collect funds early while construction lagged. Banks, aiming to grow home loan portfolios, at times overlooked due diligence,' suggests a tri-party agreement project gets delayed or builder guardrails are now in place through the Real Estate Regulation and Development Act (RERA), but these lack sufficient enforcement mechanisms. This encourages builders to play the devil with impunity. 'A law is only as strong as its enforcement. RERA orders have no enforcement power. Even if you win interest penalty for delayed completion, you can take that victory certificate where you want to. The builder is not going to pay anything,' Singh laments in his post. 'We created a system that was designed to finance the extremely low-credit builder and rob the consumer of his lifetime earnings with no recourse to justice,' he unsuspecting homebuyers are now paying a hefty price for pursuing their housing aspirations. The dream abode has turned out to be a millstone around the neck rather than a means for achieving financial freedom. For those looking to buy, vigilance remains the only Pharande, Managing Director of Pharande Spaces, insists, 'Buying a home should be driven by at least as much awareness as sentiment. Homebuyers must always approach a real estate deal in the spirit of caveat emptor—buyer beware.'Verify the builder's track record and financial stability. Ensure the project is registered with RERA and check its status online. Seek independent legal and financial advice before committing. Shetty avers, 'Scrutinise all the documents, approvals, sanctions, etc. It does not matter whether the lender or the builder have done the legal legwork. As a buyer, you are the one investing your and your family's emotional, physical, and financial well-being in the property. So make sure you have a lawyer to make all the checks on your behalf.'Do not take blind comfort in easy financing offers. 'Subvention schemes and deferred payment plans are means by which buyers can pay for their homes in a more flexible manner, based on how far along the construction is. While this makes it easier for them to pay, such schemes are only useful if they are clear and have explicit terms, and if the developer can be relied upon to complete the project as per schedule,' says Pharande. Buyers should clarify who will be responsible if the builder misses interest payments, as such lapses can lead to missed payments that negatively impact the buyer's credit score, even though the disbursed funds were for construction, not personal use, insists the builder's track record and financial IndiaWatch out for front-loaded payment schedules. Paying 70-80% of the flat cost within 18 months while the project is scheduled for completion years later is a red flag. 'Make sure the payment schedule reflects the stages for actual completion of your flat and also till the handing over of all the legal documents like no-objection certificate (NOC) and occupation certificate,' asserts Shetty. You do not want the bank to advance the entire amount even if the entire post-completion paperwork is pending. This change needs to be made in the sale deed before it is signed and registered, he says. Further, insist on third-party verification of construction milestones before any payment. Relying solely on builder statements or certificates increases don't fall for incentives offered by the builder while overlooking crucial aspects of the Shankar Singh of Colliers asserts, 'It's important to focus on the fundamentals, location, builder credibility, legal clearances, and construction quality, rather than flashy incentives.