SC reserves order in Amrapali Group case

The Supreme Court on Friday reserved its order on a plea regarding projects of the embattled real estate Amrapali Group.

A division bench comprising Justices Arun Mishra and Uday Umesh (UU) Lalit reserved its order over the plea which also sought whether unfinished projects can be taken away from Amrapali and be given to Noida and Greater Noida authority or not.

During the course of hearing, the bench clarified that it would proceed with the sale of each and every property of the group to recover the cost of construction of the pending projects.

The court was hearing a plea filed by Bikram Chatterji and others with regard to the diversion of public money by the promoters of Amrapali Group and whether the unfinished projects can be taken away from Amrapali and can be given to Noida and Greater Noida authority or not.

In April this year, the top court directed the embattled real estate group, Amrapali, to appraise it with regard to all transactions with Indian cricketer, M S Dhoni, who had worked as a brand ambassador for the company between 2009 and 2016.

On March 27, former Indian skipper Dhoni had knocked the doors of the apex court, seeking its direction to the Amrapali Group for payment of pending dues allegedly amounting to Rs 40 crore, towards his services to the real-estate company.

The top court had on February 28 allowed Delhi Police to arrest Amrapali Group CMD Anil Sharma and two other directors in a criminal complaint filed against them.

It had directed attachment of Sharma's personal properties including a bungalow in South Delhi. It had made clear that the properties of the other two directors would also be attached.

The court had asked the forensic auditors to complete their investigation on transfer and/or divergence of homebuyers' money by Amrapali group.

On January 25, it had given a go-ahead to the government-owned National Buildings Construction Corporation (NBCC) to start the process of completing two stalled Amrapali housing projects.