Noida banks will not get more than six months to shift
The Supreme Court on Monday refused to grant two years’ time, as sought by banks, and said shifting has to be done in six months.india Updated: Apr 16, 2012 23:51 IST
The Supreme Court on Monday refused to grant two years’ time, as sought by banks, and said shifting has to be done in six months.
Because of an earlier court order, as many as 100 banks in Noida’s residential areas face sealing if they don’t shift to commercial pockets.
During the last hearing, the Noida authority had objected to certain banks shifting to urban villages, saying the areas were not approved in the master plan. On Monday, the court asked the authority to verify once again if the relocation to urban villages was not legal.
The court instructed the authority to submit a final reply on the banks’ locations.
Banks’ advocate pleaded that earlier the authority approved banks in the special economic zone (SEZ), institutional areas, villages and industrial areas. But it has termed these locations unapproved in its affidavit submitted to the court.
The authority had told the Supreme Court that all the banks in villages, institutional and industrial areas are in unapproved locations.
The court will again hear the case on April 23. The court also made it clear that the decision over the issue will not be delayed further and the authority will have to make all the legal issues clear by next hearing.
“Banks sought two years so that they can construct new buildings. But the court refused to grant so much time. The court said that shifting plan of each bank will be put in its final verdict,” said a bank official.
Authority officials are unable to take a final call on shifting of banks in urban villages as the CEO’s post stays vacant.
“Whether the banks in villages should be allowed or not will be decided when a new CEO takes charge,” said an official.