Tribunal: Banks can't seize buyers' flats for developer's default

The Supreme Court has ruled that banks cannot seize a buyer’s flat in cases where developers default on payments to financial institutions. The judgment comes after a legal dispute involving a homebuyer whose property was seized by the bank due to the developer's default. The Court clarified that the buyer’s property rights cannot be compromised because of the developer’s financial issues. This decision is significant for homebuyers, as it ensures their rights are protected even in the event of a developer’s insolvency. The ruling reinforces the importance of consumer protection and reinforces the legal framework for real estate transactions.