Jains WestMinster row | Madras High Court directs builder to disclose all details regarding its financial health
The Hindu
Madras High Court directs Jain Housing to disclose financial details and address safety concerns in Chennai residential towers.
The Madras High Court on Tuesday, March 12, 2024, directed Jain Housing and Constructions Limited (JHCL) to disclose all details regarding its current financial health and the properties that it had developed in the past as well as those being developed at present in various places across the country.
Justices S.S. Sundar and N. Senthilkumar passed the interim order on a writ petition related to all three 17-storey residential towers at Jains WestMinster Apartments in Saligramam, Chennai having become unsafe, within seven to eight years of construction, due to chloride erosion.
The judges wanted the builder to submit the financial details by Monday, March 23, 2024, so that they could pass further orders on the writ petition filed by Jains WestMinster Owners Welfare Association (JWOWA). Some individual flat owners too, have been impleaded as parties to the writ petition.
The builder had agreed to raze down all three towers, after the Indian Institute of Technology-Madras submitted a report stating their longevity and the safety of their occupants was under serious threat, and to redevelop the entire project by utilising the increase in Floor Space Index (FSI).
However, senior counsel A.L. Somayaji and S. Prabakaran, representing the flat owners, vehemently opposed the builder’s proposal to redevelop the project by adding a few more floors and consequently increasing the saleable area since it might affect the Undivided Share (UDS) of the existing flat owners.
They insisted that the entire project must only be rebuilt and the existing flat owners must be given back their flats after ensuring quality construction. The senior counsel wanted the builder to deposit ₹106 crore towards the rental accommodation for the existing flat owners for 42 months.
They also insisted that the builder must show the resources from which it would be able to generate another ₹275 crore required for reconstruction of the buildings. The counsel pointed out that the builder had deposited only ₹25 crore to the credit of the writ petition.
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