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Gurugram witnessed a protest led by the Dhoot Sare Distressed Homebuyers (DSDHB) association on Sunday as they demanded immediate possession of their houses from the KGK-Dhoot company. Around 50 frustrated homebuyers gathered in Sector 92, holding placards and raising their voices to highlight their plight. According to the DSDHB association, approximately 471 buyers of SARE Homes have been unable to claim their flats due to alleged lack of information about the filing process provided by KGK-Dhoot and the Interim Resolution Professional (IRP).
The protesters claimed that a consortium comprising KGK Realty and Dhoot Infrastructure Projects acquired Sare Gurugram Private Limited, a subsidiary of SARE Homes, in 2021 through the insolvency and bankruptcy code (IBC) route. They further alleged that the consortium committed to completing the construction of a township with 1,699 homeowners eagerly awaiting the delivery of their flats.
Professor Anajana Anand, a buyer, expressed her concern, stating, "After the Sare Homes in Sector 92 was declared bankrupt, KGK-Dhoot company grabbed the flats of more than 250 allottees." She also highlighted that all creditors and homebuyers were expected to file their claims in the National Company Law Tribunal (NCLT). However, only 1,204 homebuyers managed to file their claims on time in 2021, amidst the challenges posed by the pandemic.
Mukul Anand, a 46-year-old businessman and another homebuyer, lamented the alleged failure of the IRP to inform all buyers about the claims filing process with the NCLT, despite having access to their contact information. He emphasized the importance of timely communication to ensure buyers' rights are protected.
However, insolvency professional Ajit Jain denied these allegations, asserting that the entire process had been conducted fairly, with additional time given to homebuyers in accordance with court orders and regulations.
Permanad Rao, a buyer who identified as a Ramprastha Sare Homes buyer, expressed his frustration, saying, "I have paid 98% of the total amount and received confirmation from the builders for possession in 2018. But I never received any information about filing a claim during the lockdown."
Prashant, the customer relationship manager for the builder, assured the buyers that their concerns would be addressed by the management. However, the builder did not respond to queries from TOl (Times of India).
The protest by distressed homebuyers reflects their growing frustration over the delay in obtaining possession of their homes and the alleged lack of communication and support from KGK-Dhoot and the IRP. As the situation unfolds, it remains to be seen how the authorities and the builder will respond to the demands of these aggrieved buyers.
This story was earlier published by ET Realty
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