SC orders attachment, sale of Amrapali properties
New Delhi, Dec 5 (IBNS): The Supreme Court on Wednesday called the Amrapali Group a "liar" and ordered the seizure of its properties across India for not complying with its directions, reports said.
A bench of justices Arun Mishra and U.U. Lalit ordered the attachment and sale of its five-star hotel, cinema, malls and factories along with its four offices in Noida and Greater Noida, said Hindustan Times. The Debt Recovery Tribunal (DRT) will auction the properties.
Managing director Anil Sharma, chief financial officer (CFO) Chandra Wadhwa and statutory auditor Anil Mittal were served notices as to why a case for criminal breach of trust should not be lodged against them.
The apex court is hearing a batch of petitions filed by home-buyers who are seeking possession of around 42,000 flats booked in Amrapali Group projects. The petitioners accuse the company of diverting Rs 3,000 crore of their money for other purposes. The Amrapali Group denies the charge, the report said.
“You are a worst kind of cheater in the world. You have cheated the home buyers all along and now you want to sell the facilities created for them. The facility area created for the home buyers is not a charity you have done to them,” the report quoted the bench as telling the Amrapali Group after the court was told the real estate firm intended to sell a nursery school, a nursing home and an open space to raise funds.
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