SC directs NBCC to speed up construction of seven Amrapali projects
SC directs NBCC to speed up construction of seven Amrapali projects
Praveen Dwivedi
SC directs NBCC to speed up construction of seven Amrapali projects Representative Image
Photo: Samrat Roy

SC directs NBCC to speed up construction of seven Amrapali projects

New Delhi: The Supreme Court on Monday directed state-owned National Buildings Construction Corporation (NBCC) to speed up construction works on seven projects of Amrapali Group and roll out the tenders for these projects in Noida and Greater Noida. 

The apex court also directed its registry to pay Rs 14 crore to NBCC for the work completed so far. The next hearing is scheduled on February 17, sources aware with the development, said.

Meanwhile, hearing the matter, the top court also formed a four-member committee to accelerate funds for incomplete Amrapali housing projects. As per the sources, the four members panel includes two forensic auditors – Rajiv Bhatia and Pawan Aggarwal – who had submitted their audit reports of Amrapali group to the court.

The court noted that the committee will see properties which should be sold first, which includes identifying the market value, as funds are primary to complete the unfinished projects.

A bench of Justices Arun Mishra and UU Lalit allowed the Enforcement Directorate (ED) to take former Amrapali group directors Anil Sharma and Shiv Priya (both are in jail) into custody for custodial interrogation until January 20 under alleged money laundering offences.

Meanwhile, the ED informed the bench that it had completed the investigation against JP Morgan. The court stated, “They (JP Morgan) have lot of properties in India. We want you to attach their office or corporate properties. Then, they will come running to us and we will see to it.”