SC cancels registration of Amrapali group, appoints NBCC to complete pending projects; news brings relief to over 42,000 home buyers
5 years, 5 months ago

SC cancels registration of Amrapali group, appoints NBCC to complete pending projects; news brings relief to over 42,000 home buyers

Firstpost  

A bench of Justices Arun Mishra and UU Lalit also cancelled leases of Amrapali’s properties granted by Noida and Greater Noida authorities and given them to NBCC. A bench of Justices Arun Mishra and UU Lalit also cancelled the leases of Amrapali’s properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group. The court added that the Noida and Greater Noida authorities colluded with the realty group in allowing diversion of the home buyers’ money and not acting in accordance with the law. In a relief to over 42,000 hassled home buyers, the court also directed Noida and Greater Noida to give completion certificates to flat buyers already residing in various projects of the group. The top court on 8 May said it may give ownership rights of all the 15 prime residential properties of Amrapali to Noida and Greater Noida Authorities as it has failed to fulfil its obligations towards 42,000 home buyers.

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History of this topic

Top court dismisses plea on interest cap for Noida homebuyers
1 year, 10 months ago

Top court dismisses plea on interest cap for Noida homebuyers

Hindustan Times  

The Supreme Court on Tuesday declined to recall its November 2022 order whereby it had lifted a cap on interest payable by builders to Noida and Greater Noida authority at 8% per annum on outstanding payments, and permitted the Uttar Pradesh government to decide appropriately. The Supreme Court on Tuesday declined to recall its November 2022 order whereby it had …

Supreme Court lists Amrapali housing case in January after NBCC says it needs cash immediately
2 years, 1 month ago

Supreme Court lists Amrapali housing case in January after NBCC says it needs cash immediately

Hindustan Times  

The Supreme Court on Thursday agreed to list the Amrapali housing case in January, after the National Buildings Construction Corporation informed it that the construction of 46,000 Amrapali housing units faced a serious cash crunch. The NBCC told the court that the units required immediate cash flow by way of sale of unused Floor Area Ratio in select Amrapali projects …

NBCC receives ₹271.62 cr orders to resume stalled projects of Amrapali group
2 years, 1 month ago

NBCC receives ₹271.62 cr orders to resume stalled projects of Amrapali group

Live Mint  

NBCC Ltd, a state-owned construction company, announced on Monday that it has work orders worth ₹271.62 crore in projects from the formerly real estate company Amrapali Group. The company disclosed in a regulatory filing that it has received an order for ₹42.44 crore to build the remaining portions of the Amrapali corporate Hub at IMT Manesar in Gurugram, Haryana. The …

Amrapali buyers: Over 11K flats to be given possession in 2-3 months
2 years, 3 months ago

Amrapali buyers: Over 11K flats to be given possession in 2-3 months

Live Mint  

In a big relief to the hassled home buyers of Amrapali Group, the Supreme Court was informed that 11,858 flats will be delivered in 2-3 months of which 5, 428 units will be handed over the possession in October. A bench of Chief Justice UU Lalit and Justice Bela M Trivedi was informed by court receiver senior advocate R Venkataramani …

Amrapali case: Supreme Court asks NBCC how it will deal with Rs 2,300 crore unsold flats
5 years, 4 months ago

Amrapali case: Supreme Court asks NBCC how it will deal with Rs 2,300 crore unsold flats

India Today  

The Supreme Court on Wednesday directed the National Buildings Construction Corporation and the homebuyers to suggest how they will deal with the unsold flats. In order to rescue the homebuyers who have purchased flats by taking bank loans, the Supreme Court also issued notice to banks to give suggestions on what can be done to release pending loan amounts so …

Good news for Amrapali homebuyers: SC orders Noida, Greater Noida authorities to begin flat registration immediately or face jail
5 years, 5 months ago

Good news for Amrapali homebuyers: SC orders Noida, Greater Noida authorities to begin flat registration immediately or face jail

India TV News  

Good news for Amrapali homebuyers! Supreme Court has directed Noida and Greater Noida authorities to begin flat registration of Amrapali homebuyers immediately. Both the authorities informed the apex court that a special cell had been constituted for the Amrapali case, and certain officers were appointed for the same. Promoters and top officials of realty firm Amrapali Group diverted homebuyers' money …

Amrapali Group firms bought gold with home buyers' money
5 years, 5 months ago

Amrapali Group firms bought gold with home buyers' money

India TV News  

As the Supreme Court passed a landmark judgement in the Amrapali case and ordered the Enforcement Directorate to register a money laundering case against the group's officials for fraud, the top court's latest hearing opened a can of worms in the realty firm's operations. Among several other instances of fund diversion and illegitimate use of home buyers' hard-earned money, the …

Noida authority to issue occupancy papers for ready flats in Amrapali projects
5 years, 5 months ago

Noida authority to issue occupancy papers for ready flats in Amrapali projects

Hindustan Times  

The Supreme Court Tuesday directed the Noida authority to issue occupancy certificates to all of Amrapali’s ready housing projects. Amrapali Group has developed several residential units — Sapphire in Sector 45, Silicon City and Princely Estate in Sector 76, Zodiac and Platinum in Sector 119— in Noida. But after the Supreme Court order, we hope that the Noida authority will …

SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects [Read Judgment]
5 years, 5 months ago

SC Cancels RERA Registration Of Amrapali; Asks NBCC To Take Over Noida Projects [Read Judgment]

Live Law  

In a major relief to thousands of homebuyers, the Supreme Court on Tuesday cancelled the registration of Amrapali group under Real Estate Act 2016, and directed the National Building Construction Corporation take over its pending construction projects in Greater Noida and Noida.The bench of Justices Arun Mishra and U U Lalit found that Amrapali group had siphoned. In a major …

Relief to homebuyers as SC cancels Amrapali's registration, asks NBCC to complete pending projects
5 years, 5 months ago

Relief to homebuyers as SC cancels Amrapali's registration, asks NBCC to complete pending projects

India Today  

In a big relief to thousands of homebuyers left in the lurch by their builders, the Supreme Court has cancelled the registration of real estate major Amrapali group under the Real Estate Regulatory Authority and lease of its properties granted by Noida and Greater Noida authorities. The Supreme Court also appointed the National Buildings Construction Corporation to complete all the …

Amrapali buyers worry Greater Noida authority won’t finish 35,000 flats
5 years, 8 months ago

Amrapali buyers worry Greater Noida authority won’t finish 35,000 flats

Hindustan Times  

A day after the Supreme Court said that it would hand over Amrapali Group’s stuck housing projects to the Greater Noida and the Noida authorities, the homebuyers on Thursday expressed concerns that the debt-ridden Greater Noida authority would be able to finish around 35,000 flats. “The cash-rich Noida authority can easily arrange funds to finish flats in Amrapali’s projects. Therefore, …

Don't have resources, expertise to construct stalled Amrapali projects: Noida, Gr Noida tell SC
5 years, 8 months ago

Don't have resources, expertise to construct stalled Amrapali projects: Noida, Gr Noida tell SC

India Today  

Noida and Greater Noida authorities on Friday told the Supreme Court that they don't have the requisite resources and expertise to construct the stalled projects of the embattled Amrapali Group and favoured handing over the properties to a reputed builder under the supervision of a high powered committee. The top court on May 8 had said that it may give …

May hand over stuck projects to govt bodies for completion, top court warns Amrapali
5 years, 8 months ago

May hand over stuck projects to govt bodies for completion, top court warns Amrapali

Hindustan Times  

The Supreme Court indicated on Wednesday it could take away the Amrapali Group’s ownership of unfinished projects and hand them to government agencies, reiterating that it will protect the interests of tens of thousands of homebuyers after the realty developer failed to deliver flats despite being paid. Approximately 46,000 flats have not been delivered by Amrapali Group companies, which have …

Will throw Amrapali Group out and give ownership rights of properties to Noida and Greater Noida: SC
5 years, 8 months ago

Will throw Amrapali Group out and give ownership rights of properties to Noida and Greater Noida: SC

India TV News  

The Supreme Court on Wednesday said that it may give ownership rights of all the 15 prime residential properties of embattled Amrapali Group to Noida and Greater Noida Authorities as it has failed to fulfil its obligations towards 42,000 hassled home buyers. The top court said that Amrapali Group by its own admission took Rs 11,652 crore from home buyers …

SC grills Amrapali CMD for homebuyers’ money in his account, warns him of jail
5 years, 11 months ago

SC grills Amrapali CMD for homebuyers’ money in his account, warns him of jail

Live Mint  

The Supreme Court on Thursday grilled Amrapali Group CMD Anil Kumar Sharma for ₹94 crore of homebuyers' money being shown in his bank account and also warned that it would send him to jail for his "reluctance" in disclosing the identity of a person, who had bought company's shares worth ₹140 crore from the multi-national firm JP Morgan. A bench …

SC suspects cartelisation as Amrapali’s 5-star hotel unsold in auction
5 years, 11 months ago

SC suspects cartelisation as Amrapali’s 5-star hotel unsold in auction

Live Mint  

Taking strong exception to two prime properties including a five-star hotel of the embattled Amrapali Group finding no bidders, the Supreme Court on Monday said that prima facie it looks like "cartelisation is at work" and sought to know whether "banks are part of cartels". "There were newspaper reports recently that banks are ready to finance the projects constructed by …

Noida: Buyers protest non-delivery of Amrapali flats
6 years, 1 month ago

Noida: Buyers protest non-delivery of Amrapali flats

India Today  

Hundreds of buyers of Amrapali housing on Sunday took to the streets in Noida to protest against the non-delivery of flats by the builder. India Today TV accessed the copy of the letter in which Amrapali home buyers urged the finance minister to direct RBI to issue specific guidelines for the real estate and construction sector so that the RBI …

"You Are Playing Hide And Seek", SC Sends 3 Directors Of Amrapali Group To Police Custody [Read Order]
6 years, 3 months ago

"You Are Playing Hide And Seek", SC Sends 3 Directors Of Amrapali Group To Police Custody [Read Order]

Live Law  

The Supreme Court Tuesday sent three directors of the Amrapali group to police custody, directing them to hand over all the documents of the 46 group companies to forensic auditors.A bench of Justices Arun Mishra and U U Lalit took exception to the Amprapali group not handing over all the documents to forensic auditors and said that they will remain …

SC Orders Attachment Of Bank A/c, 40 Movable Properties Of Real Estate Major Amrapali
6 years, 5 months ago

SC Orders Attachment Of Bank A/c, 40 Movable Properties Of Real Estate Major Amrapali

Live Law  

“Does your client feel that they are above everybody? Ask them not to play hide and seek with the court”, a bench of justices Arun Mishra and U U Lalit told the group’s lawyer P S Patwalia Pulling them up for “defrauding investors and playing dirty games with the court”, theSupreme Court today. Ask them not to play hide and …

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