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Amrapali case: ED attaches JP Morgan assets worth Rs187 cr, firm cries foul

A bench of Justices Arun Mishra and U U Lalit asked the Enforcement Directorate to file a short reply on the grievance raised by the JP Morgan India

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The bench also reserved its verdict on the issue of Floor Area Ratio (FAR), the interest to be realised by the NOIDA and Greater NOIDA authorities on such projects and financing of the home buyers for unsold inventories.

BS Web Team PTI New Delhi

5 min read Last Updated : May 27 2020 | 8:47 PM IST

The Enforcement Directorate on Wednesday told the Supreme Court that it has attached assets worth Rs 187 crore of JP Morgan India, which is alleged to have been involved in syphoning of Amrapali Group home buyers money.

JP Morgan India denied any wrong doing and said that attachment of properties by the Enforcement Directorate is blatantly illegal as it was not part of any kind of financial dealing with Amrapali Group and it was JP Morgan Singapore and Mauritius which had allegedly invested in the real estate group.

A bench of Justices Arun Mishra and U U Lalit asked the Enforcement Directorate

Topics : Amrapali Case Enforcement Directorate JP Morgan Supreme Court PMLA case Greater Noida