Supreme Court has ordered attachment and sale of Amrapali group’s five-star hotel, cinema hall, malls and factories across India.
The apex court also ordered attachment of four swanky corporate offices of the realty firm at Noida and Greater Noida, and asked the Debt Recovery Tribunal (DRT), Delhi to auction them.
A bench of Justices Arun Mishra and U U Lalit described the company a worst kind of cheater and a perfect liar for not complying with the court’s direction.
The top court gave a window to the firm’s directors and their family members to return home-buyers’ money by the 10th of this month.
The court also asked the company to explain by next week the diversion of around 3,000 crore rupees of home-buyers money for other purposes.
The apex court also issued notice to the Amrapali Group CMD Anil Sharma and its directors, Chief Financial officer and statutory auditor Anil Mittal, asking them why a criminal case for breach of trust should not be lodged against them.
The court was hearing a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats booked in various projects of Amrapali Group.