ED Files Money Laundering Case Against Amrapali Group After Supreme Court Verdict
Acting on Supreme Court’s verdict in the Amrapali case, the Enforcement Directorate on Tuesday filed a money laundering case against real estate firm Amrapali Group and its promoters.
Supreme Court has ordered the cancellation of Amrapali's Real Estate Regulatory Authority registration, and all of its land leases. It also directed state-owned NBCC India Ltd. to complete the unfinished residential projects in Noida and Greater Noida and handover these to 42,000 homebuyers.
NBCC will get 8 percent commission for completing Amrapali's projects.
The ED is looking to grill the promoters of the Amrapali Group and find their assets, which can be attached on charges of contravening the Prevention of Money Laundering Act, 2010, officials said.
A case under the PMLA was registered against them at the agency’s Lucknow zonal office after receiving 16 First Investigation Reports filed by the Noida police.
On February 28, Supreme Court allowed the Delhi Police to arrest Amrapali Group chairman and managing director, Anil Sharma, and two directors on a complaint that buyers of their various housing projects were duped. The top court had also ordered attachment of personal properties of Sharma as also its directors—Shiv Priya and Ajay Kumar.