SPIDEY BUZZ

Amrapali case: SC accepts forensic report on home buyers’ ‘siphoned off’ money

By Praveen Dwivedi
Photo: City Spidey
Posted: Apr 30, 2019

While hearing the case pertaining to nearly 42000 home buyers seeking possession of flats in various projects across Noida and Greater Noida for the past several years, the Supreme Court on Tuesday accepted the audit report stating Amrapali Group’s involvement in siphoning off flat owners’ money.

Though the forensic auditors, in their report, informed the court that an approximate of Rs 35000 crore has been diverted by the real estate group, they were unable to give out the details of its whereabouts. In this regard, the apex court directed the Delhi Police to probe the case on the basis of auditors’ report.

Besides, the Supreme Court directed the Amrapali Group to share all the details of its transactions with Indian cricketer MS Dhoni who was brand ambassador for the real estate group between 2009 and 2016. The apex court has asked the said group to comply with its order by May 1 (Wednesday). 

The court’s move comes after Dhoni had sued the real estate firm for not clearing dues of approx Rs 40 crore owed to him. He had accused Amrapali Group for not giving him the possession of a flat he had booked in his hometown, Ranchi. The court had accepted a forensic audit report in connection with the case.

During the day-long hearing, the court also discussed the role Real Estate Regulatory Authority (RERA) and UP Apartment Act. 

The top court will continue its hearing on Amrapali Group issue till May 2 (Thursday).

TAGS: Noida news / Greater Noida news / Amrapali Group / Amrapali case / home buyers issue / possession of flats / Supreme Court / apex court / siphoning off money / Rs 35000 crore / real estate firm / builder / residential projects

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