The Supreme Court ordered Amrapali Group's properties, including a five-star hotel, malls, FMCG company, the corporate office and 86 cars bought and built with the money from home buyers, to be attached
New Delhi: In an exemplary punitive action, the Supreme Court on Wednesday ordered properties of estranged builder Amrapali Group, including a five-star hotel, malls, FMCG company and the corporate office, which were built with the money of home buyers, to be attached. The apex court also ordered 86 cars in Amrapali’s fleet to be seized.
The Debt Recovery Tribunal (DRT) has been ordered to sell these assets.
The apex court also issued a notice to the chief managing director (CMD) and other directors asking why a criminal case not be pursued against them. The Supreme Court also ordered that all the money collected from the home-buyers, which amounts to Rs 2,900 crores, be deposited with the court. It also said that legal action would be taken against those defying this.
The apex court said that all the documents and records pertaining to the period between 2015 and 2018 be submitted to the forensic auditors by Monday.
The court also inquired from the National Buildings Construction Corporation (NBCC) (India) Limited as to what was the plan and the blueprint to complete the pending and languishing projects of Amrapali.
The next hearing in the matter was scheduled for December 12.
Amrapali CMD Anil Sharma had accepted that the money from the home-buyers had been diverted to other companies and distributed among officers as gifts and other gratification.
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Last Updated Dec 5, 2018, 7:40 PM IST