Overview
- The court named former Allahabad High Court judge Pankaj Naqvi to lead an inquiry that will verify genuine allottees, examine partial restoration of the cancelled lease, devise proportional payment of land dues, and outline a time‑bound completion or monetisation plan, including auctions of unclaimed flats.
- Uttar Pradesh authorities, GNIDA, the state housing commissioner, the Gautam Buddh Nagar district magistrate, and concerned banks were directed to extend full cooperation, with public notices to be issued in Hindi and English to reach all allottees.
- The committee will operate from New Delhi or Noida with logistical support from the state and GNIDA, its expenses will be shared equally between allottees and the state government, and the chair will receive a ₹15 lakh honorarium paid in three tranches.
- The matter has been scheduled for March 24, 2026, when the Supreme Court will consider the committee’s report and decide further directions on restoration of the project and rehabilitation of buyers.
- The dispute traces to a 2004 allotment and GNIDA’s 2011 lease cancellation for non‑payment, with EOW criminal cases against the developer and society officials proceeding in parallel, and earlier audits indicating at least one tower could be made habitable with strengthening.