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IN THE HIGH COURT OF ALLAHABAD
MAHESH CHANDRA TRIPATHI, PRASHANT KUMAR
Three C Green Developers Pvt. Ltd. – Appellant
Versus
State Of U.P. – Respondent
| Table of Content |
|---|
| 1. development of sports city (Para 2) |
JUDGMENT :
| S.No. | Heading | Page No. |
| A. | Factual Matrix & History of the development of the Sports City | 02-03 |
| B. | Sports City Scheme 2010-2011 | 03-06 |
| C. | Land Use of Sports City | 06-16 |
| D. | Arguments on behalf of the petitioners | 16-18 |
| E. | Arguments on behalf of the Noida Authority | 18-35 |
| F. | Analysis | 35 |
| G. | Effect of Past Conduct | 35-36 |
| H. | Scheme- 2010-2011 for development of Sport City in Noida and its violation | 36-44 |
| I. | Insolvency Lifting of Corporation Veil | 44-50 |
| J. | Zero Period | 50-51 |
| K. | Scam | 51-53 |
| L. | Fraud | 53-55 |
| M. | Piercing of Administrative Veil | 55-57 |
| N. | Scope of Judicial Interference | 57-59 |
| O. | CBI Inquiry | 59-63 |
| P. | Corporate Insolvency | 63-65 |
| Q | Effect on consortium when a member of the consortium goes into the insolvency | 65 |
| R. | Recommendations | 66 |
| S. | Directions | 67 |
A. FACTUAL MATRIX AND HISTORY OF THE DEVELOPMENT OF THE SPORTS CITY
B. SPORTS CITY SCHEME 2010-2011
4. The reserve price for the scheme was set at Rs.11,500/- per square metre. The developer was supposed to create sports facilities over 70% of the entire land area, which was not marketable, and to set off this expense in developing the sports city, the developer was allowed to construct group housing on 28% and commercial on 2% of the total land
The court emphasized the need to pierce the corporate veil to hold individuals accountable for fraud, asserting judicial authority to intervene in administrative decisions when public interest is com....
The court emphasized the need for accountability in public contracts, allowing judicial review to ensure fairness and public interest, while directing a CBI inquiry into irregularities in the Sports ....
The court emphasized that reverse CIRP cannot be used to evade liabilities, and the interests of homebuyers must be prioritized in insolvency proceedings.
The court emphasized that insolvency proceedings should not be exploited to evade liabilities, confirming the necessity to protect homebuyers' interests and investigate corporate fraud.
A lead member of a consortium who opts out lacks locus standi to challenge the actions of the authority regarding project delays and cannot claim damages.
Delegation of municipal powers to smart city SPVs is valid, and the absence of elected representatives on their boards does not constitute usurpation of authority.
The High Court emphasized the importance of independent and effective investigation in cases involving allegations of corruption and irregularities, particularly when high-ranking officials and burea....
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