India, Aug. 13 -- Sixteen years after two sets of homebuyers booked flats in a Govandi housing project and allegedly paid the builder Rs.4.67 crore, a special Maharashtra Protection of Interest of Depositors (MPID) court has ordered the Govandi police to register FIRs against Mishal Constructions Pvt Ltd and its directors/promoters for allegedly failing to hand over possession of the flats or refund their money.

The court's orders, passed on Tuesday by designated judge Vikram R Jagdale, also rejected the police's closure reports. It held that pending proceedings before the Maharashtra Real Estate Regulatory Authority (RERA) cannot prevent criminal action under the MPID Act, while directing the police to register FIRs against the company ...