SC allows NBCC to complete two stalled housing projects of Amrapali Group

The Supreme Court on Friday gave a go-ahead to the government-owned National Buildings Construction Corporation (NBCC) to start the process of completing two stalled Amrapali housing projects.

The matter was heard by a division bench of Justice Arun Mishra and Justice UU Lalit. NBCC told the court that they would start work on the two stalled projects of Amrapali Group-Eden Park and Castle, which will cost Rs 4.96 crore.

The bench has now posted the matter for hearing on February 11.

In December last year, the apex court order said that Amrapali Tech Park properties in Raipur will be evaluated within 10 days and sold by January end to repay the money of homebuyers.

However, the apex court clarified that the electricity bills would be paid by the homebuyers. Earlier pending bills had to be paid after auctioning the properties of Amrapali directors.

The Supreme Court also asked Noida and Greater Noida authorities to give water connections to Amrapali homebuyers urgently.

The apex court is hearing a batch of pleas filed by flat buyers who have sought quashing of the September 4 last year's National Company Law Tribunal (NCLT) order and said the moratorium imposed under the provisions of the Insolvency and Bankruptcy Code, 2016, is violative of Article 14 (equality before law) of the Constitution.