Hindustan Times 23.11.2010
Emaar MGF still to complete CWG Village: DDA to HCBuilders Emaar MGF has failed to complete the Commonwealth Games (CWG) Village housing project till date, making itself liable to confiscation of its bank guarantee as damages, the DDA told the Delhi High Court on Monday. Appearing for the agency, Additional Solicitor General (ASG) Indira Jai Singh argued that “till today, the company has not completed the work, including the exterior part of some towers, including milestones 8 and 9 (towers have been rechristened as milestones).”
“The company has not obtained the completion certificate till date from the monitoring committee which certifies the building is technically fit to occupy,” she added.
DDA said it is entitled to encash the entire bank guarantees of Rs 183 Crore (Rs 150 crore of SBI and Rs 33 crore of State Bank of Patiala) furnished by the company as it has failed to meet the March 31, 2010 deadline. DDA had granted temporary certificates to occupy the Village flats due to the Games, said Singh adding the housing body, however, cancelled the occupation certificates soon after the international sporting event was over.
The DDA counsel made the submissions during the hearing of a petition by the real estate firm challenging an Urban Development Ministry’s order to seize the firm’s entire bank guarantee worth Rs 183 crore as damages for its failure to complete the project in time.
