2 months ago
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The Madurai Bench of the Madras High Court observed that nowadays immoderate politicians and governmental intermediaries exert undue power implicit existent property promoters and dismissed the bail petition filed by a mates arrested for cheating and threatening a existent property promoter here.
Justice K.K. Ramakrishnan said specified persons compel the promoters to wage amerciable gratification and, successful immoderate instances, criminally intimidate them into executing merchantability deeds successful respect of flats astatine prices substantially beneath the prevailing marketplace value. These acts are often accompanied by mendacious assurances that indispensable approvals and permissions would beryllium secured from the Corporation and the governmental departments concerned.
Relying connected specified representations, promoters are forced to execute and registry merchantability deeds for a meagre consideration. However, aft obtaining the registration, these persons allegedly neglect to fulfil the promises made astatine the clip of execution of the merchantability deed, the tribunal said.
