Archive · 27 Jan 2026
Supreme Court Warns Builder on Refunds
The Supreme Court of India is very serious about helping people who invested in a shopping complex called Grand Venice in Greater Noida.
These people have been waiting for 15 years to get their shops, but the building is not ready and is in bad condition.
The court told the builder, Mr. Bhasin, to say by Wednesday if he can give the money back to the investors who want to leave.
The court also said it might take away Mr. Bhasin's freedom if he doesn't help these people.
The builder said he will give the money back but is arguing about the interest.
He also promised to fix the building in 6 to 8 weeks.
The court has a report that says the building is not safe and needs a lot of work.
The Supreme Court directed the builder of the Grand Venice project to file an affidavit by Wednesday stating whether he can refund the principal amount and interest to 121 allottees.
The court warned it would consider petitions seeking the cancellation of the builder's bail if the refunds are not processed.
A court-appointed committee found the commercial complex unfit for occupancy due to large-scale negligence and inadequate services.
The builder's lawyer assured the court that repair work would be completed under the committee's supervision within 6 to 8 weeks.
The Central Public Works Department (CPWD) report highlighted major discrepancies in the project's construction, including deviations from sanctioned plans and unfinished amenities.
- Who
- Supreme Court of India, Bhasin Infotech and Infrastructure Private Limited (BIIPL), 121 allottees
- What
- Supreme Court warns builder to specify refund plans for investors in the Grand Venice project
- When
- Hearing on Tuesday, affidavit to be submitted by Wednesday afternoon
- Where
- Greater Noida, India
- Why
- The project is unfit for occupancy, and investors have been waiting for 15 years for possession
- Project Name
- Grand Venice
- Location
- Greater Noida
- Developer
- Bhasin Infotech and Infrastructure Private Limited (BIIPL)
- Number of Allottees
- 121
- Court's Deadline for Affidavit
- Wednesday afternoon
- Time for Repair Works
- 6 to 8 weeks