Amrapali Case

The Supreme Court on Wednesday reserved its verdict on the issue of sale of unused floor area ratio (FAR) of Amrapali Group of Companies in order to generate funds for its stalled projects. FAR is the ratio of a building's total floor area (gross floor area) to the size of the piece of land on which it is built. A bench of Chief Justice of India U U Lalit and Justice Bela M Trivedi reserved its verdict on the issue. The CJI will be demitting office on November 8, a court holiday, and will hold court last on November 7. The Noida and Greater Noida authorities have opposed the sale of the unused FAR while court receiver and attorney general R Venkataramani has supported it saying it will help in generating funds for the stalled projects of the group. Venkataramani had earlier told the bench that to complete the stalled projects, funds will be needed and despite the payment of home buyers, selling of unsold inventories and bank loans, the amount collected will be very less as compare

The Noida and Greater Noida authorities strongly opposed the plea to sell unused and additional FAR in Amrapali housing projects to raise funds for the completion of unfinished projects

Chief Justice of India-designate Justice Uday Umesh Lalit on Monday said that "a prophecy seems to be coming true. Amrapali case is not going to leave me soon". Justice Lalit, who will assume charge as Chief Justice of India on August 27, will next hear the Amrapali case on September 3 (Saturday) from 10.30 am to 1 pm, a day which is a holiday in the top court. A special bench of Justice Lalit and Justice Bela M Trivedi which hears the Amrapali case granted interim bail of four weeks to ex-Director Shiva Priya for the treatment of his 13-years-old daughter, who is suffering from various ailments. The bench said that Priya, facing money laundering charges among others, will surrender on or before the expiry of four weeks period and would not misuse his liberty or his bail bonds will be forfeited and he will be arrested. Justice Lalit, who has been hearing the Amrapali case since March 2018 said, "It seems that prophecy expressed by advocate ML Lahoty is coming true. This Amrapali ca

Supreme Court sought a status report on the medical condition of Anil Kumar Sharma, ex-CMD of Amrapali Group of Companies, who is lodged in jail and is seeking bail citing his deteriorating health

The apex-court stayed proceedings initiated by former India captain MS Dhoni against the Amrapali group of companies, now a defunct real estate firm, over financial disputes

The Supreme Court Monday clarified that its priority is that hassled home buyers of Amrapali Group of companies get their homes and thereafter at the end it will consider the claims of money lenders

The UCO bank, which has shown its inclination to provide loan had earlier told the court through court receiver that it can provide fund to tune of Rs 2000 crores

From S&P retaining India's sovereign rating and outlook, SC relief to Amrapali homebuyers to HUL's crorepati club shrinking, here are top news of the day

A bench headed by Justice Arun Mishra issued the directions after observing that the construction of the housing projects had come to a standstill due to lack of funds

Here are the top 10 headlines on Thursday morning

The Supreme Court on Friday had allowed the agency to attach the investment banking firm's assets to recover the amount identified as proceeds of crime under PMLA

A bench of Justices Arun Mishra and U U Lalit asked the Enforcement Directorate to file a short reply on the grievance raised by the JP Morgan India

Amrapali group's assured returns to JPMorgan under foreign direct investment were unauthorised in nature, find ED

ED said it has prima facie found that there was violation of FEMA norms by the US-based JP Morgan and a complaint in this regard has been lodged

SC bench also asked the audit report to be given to the Institute of Chartered Accountants of India (ICAI)

Forensic auditors have told SC that Amrapali Group had entered into "sham agreements" with Rhiti Sports Management Pvt Ltd (RSMPL), which promotes brand of Dhoni, to illegally divert home buyers money

Top court says Amrapali defrauded buyers in connivance with banks, Noida, Greater Noida authorities, appoints state-owned NBCC India to complete pending projects

Top court says Bank of Baroda, Syndicate Bank, Bank of India, and Corporation Bank did not monitor fund utilisation

ED's zonal office in Lucknow filed a case under the Prevention of Money Laundering Act early this month after taking cognisance of at least 16 FIRs registered against the group by Noida Police

In a relief to the home buyers, the Supreme Court has ordered NBCC to finish all pending projects of Amrapali Group