SC Attaches Hotel, Cinema Hall, Malls And Factories Of Amrapali Group For Not Complying Directions


New Delhi: A Supreme Court of India bench of justices Arun Mishra and UU Lalit called the real state Amrapali Group a ‘perfect liar’ and ‘worst kind of cheater’ as it ordered attachment and sale of its five-star hotel, cinema hall, malls and factories across India for not complying with its directions.

The SC also ordered attachment of four swanky corporate offices of the embattled reality firm located in Noida and Greater Noida. The Debt Recovery Tribunal (DRT) was directed to auction the properties.

In a stern order, the bench also asked the firm’s directors and their family members to return home-buyers’ money, if they have it, by December 10. Notices were also issued to the group chairman and managing director Anil Sharma, chief financial officer (CFO) Chandra Wadhwa and statutory auditor Anil Mittal as to why a case for criminal breach of trust should not be lodged against them.

The SC, which is hearing a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats booked in Amrapali Group projects, gave its order after advocate ML Lahoty, appearing for the homebuyers, submitted the company had defrauded the investors and should be prosecuted under criminal law. He alleged the company had diverted around Rs 3,000 crore of home-buyers’ money for other purposes, a charge the company denied.

“You (Amrapali Group) are a worst kind of cheater in the world. You have cheated the home buyers all along and now you want to sell the facilities created for them. The facility area created for the home buyers is not a charity you have done to them,” the bench said after it was told that the real estate firm wants to sell a nursery school, an open space and a nursing home to raise funds.

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