Amrapali Case: Supreme Court Orders Disbursement Of Rs 7.16 Crore To NBCC
A view of the Amrapali buildings at sector 78 in Noida. (Source: PTI) 

Amrapali Case: Supreme Court Orders Disbursement Of Rs 7.16 Crore To NBCC

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The Supreme Court of India on Monday directed disbursement of Rs 7.16 crore deposited by the Amrapali group to NBCC (India) Ltd. for completion of stalled projects of the group.

A bench of justices Arun Mishra and UU Lalit also directed that a forensic audit report be given to the Enforcement Directorate, Delhi Police and the Institute of Chartered Accountants in India for taking appropriate action against Amrapali directors and auditors for siphoning off over Rs 3,000 crore of homebuyers' money.

The bench also directed the Noida and Greater Noida authorities to set up a nodal cell for issuing completion certificate to homebuyers. It also directed the authorities to depute one officer not below the rank of deputy manager to coordinate with the court receiver, senior advocate R Venkataramani, in dealing with the affairs of Amrapali.

The bench posted the matter for further hearing on Sept. 11. The court had on Aug. 13 asked the Noida and Greater Noida authorities to grant completion certificates to thousands of harassed home buyers residing in various Amrapali projects in compliance with its verdict and warned that the officials concerned will be sent to jail if they fail to do so.

On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by home buyers and ordered cancellation of the registration of the Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.

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