Kochi:SC attaches properties, bank accounts of builders

Kochi:SC attaches properties, bank accounts of builders

Supreme Court of India. (Reuters Photo)

The Supreme Court has nominated a retired judge, Justice K Balakrishnan Nair, to head a committee to determine the final payment to be made to the flat-owners of Maradu building of Kochi.

The building was directed to be brought down for having been raised in the Coastal Regulation Zone.

A bench of Justices Arun Mishra and S Ravindra Bhat, which ordered an interim compensation of Rs 25 lakh to the flat-owners, also directed for attachment of properties and bank accounts of the builders.

The court also issued notice to Kochi's M/s Alfa Ventures (P) Ltd, M/s Holy Faith Builders & Developers (P) Ltd, M/s Jain Housing & Construction Ltd and K P Varkey & Builders.

“We attach the properties held by them as well as their bank accounts,” the bench said in its order released on Saturday.

The court had on Friday directed the Kerala government to pay the amount of interim compensation within four weeks.

“It is made clear that the amount shall be recoverable from the Builder/Promotors/the persons/officials responsible for raising the construction,” it said.

The court fixed the matter for further hearing on October 25.

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