Developer claiming land will continue to belong to him
Developer sold residential flats in an under-construction project on SEZ land. Under SEZ Act, the land despite being owned by developer, could not be sold or transferred to flat-buyer. On this ground, registered agreements with flat-buyers were signed where developer would continue to be the sole owner of the land.
This developer defaulted on loans taken from banks. Banks seized the project and sold to new developer. Debt Recovery Tribunual protected flat-buyers by ordering that whoever becomes the new developer will have to honour all the committments of earlier developer and this was part of the pre-bid conditions. New developer after winning the bids, when approached SEZ authorities, was given all rights of earlier developer, and also SEZ authorities took decision to denotify the residential part of the SEZ project.
Question is : Can the flat-buyers demand UDS of the entire denotified portion of the residential project? What legal recourse do flat-buyers have if new developer does not given them UDS of the entire residential area denotified by the SEZ Authorities?