SC pulls up Amrapali Group over its failure to hand over possession of flats to home buyers

The Supreme Court today pulled up the real estate major Amrapali Group which is accused of failing to hand over the possession of flats to around 42,000 home buyers.

A bench of Justices Arun Mishra and U U Lalit threatened the group that the court would sell each and every property of the firm to recover the cost of construction of the pending real estate projects.

The bench asked Amrapali to submit within 15 days a valuation report of movable and immovable properties of its Managing Director and Directors.

It also sought the details of companies that were looking after the maintenance of Amrapali projects and the funds they have collected and disbursed so far.

The apex court enquired about the details of its serving directors and those who have left the Amrapali group since 2008.

The top court, however, asked the power companies to restore the electricity at two projects of the group which was disconnected owing to arrears.

The Supreme Court had earlier criticized the group for playing fraud and dirty games with the court and ordered attachment of all the bank accounts and movable properties of 40 firms of the real estate major.

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