Amrapali's promoter hasn't deposited Rs 250 crore as required: Buyers tell SC

Amrapali’s promoter hasn’t deposited Rs 250 crore as required: Buyers tell SC

NEW DELHI: Amrapali home buyers on Tuesday apprised the Supreme Court that the real estate group’s promoter Anil Sharma has not deposited Rs 250 crores as per the directions of the top court.

“More than Rs 250 crores siphoned/diverted money was required to be deposited by him (Anil Sharma) as per the judgment of July 23, 2019, but the same has still not been done,” Amrapali home buyers’ advocate ML Lahoty submitted to the apex court bench, headed by Justice Uday Umesh Lalit.

The apex court has taken this on a serious note of the submissions made by Lahoty and also rejected all the bogus defenses on behalf of Amrapali and directed that needful be done after each of the dues are verified by the receiver and forensic auditors.

The Supreme Court also said that for this purpose, if need be, Anil Sharma may be brought from judicial custody for a short period before the receiver/forensic auditors.

This issue and how to retrieve the money will be finally decided after two weeks by the Supreme Court, the bench headed by Justice Lalit said.

The top court was informed that many banks are hesitant to finance the Amrapali projects because of the stigma and the name of Amrapali erstwhile directors associated with it.

The apex court has assured the home buyers in this regard that since it is no longer of the earlier promoters and directors and all the decisions regarding Amrapali are being considered by the Supreme Court itself, the banks, thereby, have no reason to hesitate only because the name Amrapali is associated with these projects.

The construction of Amrapali’s stalled projects is being handled by the National Building Construction Corporation (NBCC).

The Supreme Court will now hear the matter on December 1.