Court tells Amrapali to deposit Rs 10 cr to compensate buyers for delay

NCDRC directed the Group managing director Anil Kumar Sharma to appear at the next hearing for failing to comply with its previous order

Months after the National Company Law Tribunal admitted the insolvency petition of Bank of Baroda against Amrapali group, the realtor has been asked by a consumer court to deposit the compensation payable to 96 home buyers of its delayed Sapphire project in Noida within one month. The compensation is expected to amount to Rs 10 crore.

The National Consumer Dispute Redressal Commission, chaired by Justice VK Jain, also directed the Amrapali Group managing director Anil Kumar Sharma to appear at the next hearing on March 7, 2018, for failing to comply with its order in July, according to Economic Times.