In 2015, real estate firm Amrapali Group was at its peak -- with around 50 projects spread across 24 cities. Also, former Indian cricket captain Mahendra Singh Dhoni was one of its brand ambassadors.
It said the liability of home buyers would come into effect from the date when possession of the flat is handed over, and banks can take action if they do not discharge their liability
NBCC informed the Supreme Court that there is no problem with the structural safety of Amrapali projects and it has appointed VNIT Nagpur and NIT Jalandhar to carry out the structural audit.
Over 1,800 homebuyers of Amrapali housing projects in Noida who have been asked by a Supreme Court-appointed receiver to start making payments of their outstanding dues within 15 days.
The Supreme Court warned that the flat buyers of Amrapali Group who are not clearing their dues as per the payment plan should not be in any kind of delusion
A bench of Justices Arun Mishra and U U Lalit was told by counsel appearing for SBICAP Ventures that it would apprise the court about its concrete proposal by next week
The bench said only genuine homebuyers can invoke insolvency proceedings against the builder and asked the Centre to file an affidavit taking the corrective measures
The Centre has submitted that the State Bank of India has been appointed as a fund manager and it will disburse the amount based on certain norms after an application is made by a real estate entity.
Noida and Greater Noida officials had, in their submissions, told the two-judge bench that a special cell with dedicated officers had been created for the homebuyers of Amrapali
JPMorgan invested around Rs 85 crore in an Amrapali Group company's shares and later sold them to an office boy and nephew of the auditor for Rs 140 crore
A bench of Justices Arun Mishra and U U Lalit also brought 'The Royal Golf Link City Projects Pvt Ltd' under its scanner and sought its share holding pattern, names of promoters and balancesheet
