Supreme Court warns Amrapali Group against playing smart

By Accommodation Times Bureau

NEW DELHI

Supreme Court sternly warned real estate giant Amrapali Group against playing smart in front of the apex court. Amrapali Group is accused of unnecessarily delaying its projects to the disbenefits to the home buyers’ interests. The apex court said that it would not allow the company to collect money from harassed home buyers. A bench of justices Arun Mishra and UU Lalit said, “The real problem is that you have delayed giving possession of homes. Don’t try to play smart, or we will sell each and every property of yours and render you homeless. You will have to look for your houses like you are making others wait for their homes. We will sell each and everything of yours.”

The bench got angry after the Amrapali group submitted a proposal to sell commercial properties worth Rs 400 crores as against the expected cost of Rs 4000 crores, to be incurred in completing its projects. The bench said, “You are giving us a proposal of just Rs 400 crores, against the expected cost of Rs 4000 crores for completion of the pending project. You are actually acting smart. When you are before the court, you have to be sincere and upright. The day is not far when you will compel us to sell your properties.”

Advocate Gaurav Bhatia who is appearing for the Amrapali group said during the hearing that it can raise 6119 crores including Rs 5112 crores from home buyers





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