Amrapali News

Amrapali Sapphire buyers have Rs 46 crore dues: Report

Delhi/NCR A section of buyers of Amrapali Sapphire 1 and 2 owes the builder Rs 46.5 crore, a forensic report states, at a time when a tripartite agreement is to be signed among the Noida Authority, buyers and the court receiver. According to the report, over Rs 3 crore is due from buyers who have already moved into flats. A copy of the forensic report, accessed by TOI, also points out several...

Delhi court sends Amrapali’s CFO and auditor to five-day police custody

NEW DELHI: A Delhi court on Tuesday sent two officials of Amrapali Group to five-day police custody after the probe agency sought their custodial interrogation. The court sent Amrapali Group's chief financial officer Chander Wadhwa and statutory auditor Anil Mittal to police custody after the Economic Offence Wing (EoW) of Delhi Police claimed they were instrumental in creating a large number of bogus...

Amrapali-like fraud won’t recur: Centre to SC

NEW DELHI: Assuring that large-scale financial fraud, such as cheating of homebuyers in the Amrapali case, will not happen in the real estate sector in future, the Centre told the Supreme Court on Thursday that a mechanism had been put in place to check diversion of funds by builders. Additional solicitor general Madhavi Divan told a bench of Justices RF Nariman, Sanjiv Khanna and Surya Kant that it was...

SC cancels registration of all Amrapali Group companies under RERA

NEW DELHI: The Supreme Court of India on Tuesday cancelled registration of all companies of Amrapali Group under Real Estate Regulatory Authority (RERA). The bench of judges Arun Misra and UU Lalit held that serious fraud has been played by Amrapali Group in connivance with Noida and Greater Noida authorities. "The money paid by home buyers included the duties to be paid to authorities. And since authority...

Buyer moves into unfinished Amrapali Zodiac flat

NOIDA: A buyer with a flat in Tower A of Zodiac society in Sector 120 — having waited for over a year for the beleaguered builder Amrapali to complete the flat’s construction and fetching the no objection certificate (NOC) from authorities — has moved into the flat with his family. The flat is incomplete, with flooring in one room, kitchen and fittings in bathrooms yet to be completed, but Akhilesh...

Amrapali Group committed first degree crime by cheating home buyers: SC

Amrapali Group has committed a "first degree crime" by cheating thousands of home buyers and no matter how powerful the people behind this mess they will be booked and prosecuted, the Supreme Court said Tuesday. "Fate is written on the wall" for the group and its directors, the top court said while declining to hear their claims of no wrong doing. The embattled real estate firm "cheated everybody including...

SC allows I-T, EOW to access forensic report on Amrapali Group

NEW DELHI: The embattled Amrapali group has diverted over Rs 3,500 crore of home buyers money to different projects, the forensic auditors Tuesday told the Supreme Court which allowed the I-T department and the EOW to access their fresh report. A bench of Justices Arun Mishra and U U Lalit was told by two forensic auditors -- Pawan Agrawal and Ravi Bhatia -- that they have received notices from I-T...

Amrapali Group Case: Supreme Court Orders Sale Of Director’s Assets

The Supreme Court identified 16 estates belonging to beleaguered property developer Amrapali Group to raise funds for stalled projects. The court directed the sale of assets owned by all of the company's directors, their family members and related companies. The case relates to the embattled Amrapali Group which has failed to hand over possession of flats to around 42,000 homebuyers. The property...

Amrapali in talks to complete its under-construction projects with NBCC

Amrapali today said in the Supreme Court that it is in talks with National Buildings Construction Corporation (NBCC) to take over and complete it's under construction projects. The statement comes after a committee was set up by the Uttar Pradesh government last week, which asked NBCC to explore the possibility of completing the much-delayed projects of Amrapali and few other builders. NBCC through its...

Supreme Court: Amrapali needs Rs 2,000 crore to finish 9 NCR projects

The Supreme Court was told on Wednesday that real estate giant Amrapali NSE 0.00 % will need to invest around Rs 2,000 crore to finish nine projects in Noida and Greater Noida, which are on the verge of completion, dampening the hopes of thousands of homebuyers to get possession of their flats any time soon. In an estimate submitted before a bench of Justices Arun Mishra and U U Lalit, the court was told...

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