The unintended consequences of SC's order on Amrapali3 min read . Updated: 24 Mar 2022, 03:22 PM IST
- Granting the project a priority sector status (which is available only to affordable housing projects) and disregarding its interest payment defaults would trigger the classical ‘slippery slope’ provision.
The Supreme Court’s attempts to resolve the stalled Amrapali housing project, in favour of hapless home-buyers, have inadvertently created a contentious hierarchy of rights and priorities. The case will set a precedent for the future of stressed assets in India and determine a pecking order for the rights of various institutions.
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