Amrapali case: SC directs Bhubaneshwar, Raipur authorities to submit funds in registry

The Supreme Court on Monday directed Bhubaneshwar and Raipur authorities to deposit an amount of Rs 34.50 crores and Rs 20 crores respectively in its registry in the case pertaining to the unfinished housing projects of embattled real estate Amrapali group in Noida and Greater Noida.

A division bench of justices Arun Mishra and Uday Umesh Lalit directed the authorities to deposit the amount within four weeks.

This was the amount Amarapali had given to these authorities for obtaining leases in the cities.

"The court directed three directors of Amrapali group Shiv Priya, his wife Sonali Suman and Ajay Kunar to deposit Rs 11.77 crores and Surekha group of companies to submit Rs 168 crores to the court account by November 30," counsel for the homebuyers, lawyer ML Lahoty told ANI.

The apex court had earlier directed the National Buildings Construction Corporation Limited (NBCC) to complete the pending projects and sell the unsold flats of Amrapali group.

"However, the NBCC did not have the funds to do so. Therefore, the court asked Bhubaneshwar and Raipur authorities to submit these funds to its registry," Lahoty said.

He said that once the apex court gets the money, it will consult the builders to decide which towers can be completed within the time frame of 3-9 months so their construction can be initiated.

The court had, on August 26, directed its registry to release Rs 7 crore to National Buildings Construction Corporation (NBCC) to complete two stalled projects of the real estate group in Noida and Greater Noida.

The homebuyers had told the court that a total of Rs 2,000 crores is required to complete the unfinished projects in Noida and Greater Noida areas.