"Only after taking permission from the NGT would the accounts of the builders be de-freezed," said NGT chairperson Justice Swatanter Kumar who was heading a four-member bench. Among these builders, ERA Redwood Residency also faces a hefty environment compensation of Rs.55 lakh for failing to obtain the statutory consent to operate the STP. Further, Omaxe Heights, SRS and BPTP were asked to fork out environment compensation of Rs 5 lakh each for dysfunctional STPs. The NGT bench was earlier imposing an environment compensation of Rs 50 lakh each. But, the counsel for builders pleaded that they were facing mounting pressure of Non-Performing Assets and thus sought to reduce the compensation and the Tribunal agreed.

Source: dna November 17, 2017 02:48 UTC