SPIDEY BUZZ

SC may ask Noida, GreNo Authorities to complete Amrapali projects

By Praveen Dwivedi
Photo: Samrat Roy
Posted: May 08, 2019

In the Amrapali case, the Supreme Court on Wednesday indicated that the responsibility to complete the pending projects might be given to Noida and Greater Noida Authority.

The apex court told Amrapali Group that there is a surplus amount of Rs 350 crore and it can be used by Noida and Greater Noida Authority to complete the projects. The surplus amount is the difference between the total money received by the builder and the amount spent on the projects so far.

It said that the Authorities could finish the projects by taking help from the state-owned National Buildings Construction Corporation (NBCC).

Justice UU Lalit said, “The unsold unit will be sold at premium rate and out of that money,the constructions will be completed.”

The top court said that banks can recovers its dues from Amrapali directors. It has asked Amrapali to reply on the matter on Thursday. It has also given opportunity to bank and the Authorities to clear their stand on the matter.

Stating that home buyers are top on the priority, the apex court said that the buyers and investors will invest money in the projects and matter will be solved.

The next hearing in the matter is on Friday.

Earlier, the SC had made sharp comments against the Amrapali Group, Noida Authority and banks. Following which, there is a hope among home buyers that there will be a decision in favour of them and they will finally be able to get their dream homes.

During the hearing, the top court had said that the Amrapali Group has committed a first degree crime by cheating thousands of home buyers and the culprits will be booked and prosecuted irrespective of how powerful they are.

A bench of justices Arun Mishra and UU Lalit said that the Amrapali Group has cheated buyers, bankers and Authority.

Flat buyers waiting for their dream homes for last several years were happy that the court has held banks and Noida Authority responsible along with Amrapali Group.

TAGS: Noida news / Greater Noida news / Amrapali Group / Amrapali case / home buyers issue / possession of flats / Supreme Court

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