Gave proposal to Centre for construction of unsold, future projects by NBCC: Amrapali tells SC

The embattled Amrapali group today told the Supreme Court that it has given a proposal to the central government for construction of its unsold and future projects by National Buildings Construction Corporation (NBCC).

A bench of justices Arun Mishra and U U Lalit asked the Amrapali group to furnish the details of the proposal given to the Centre in 10 days and submit financial details of projects undertaken by it since 2008-09.

Additional Solicitor General Vikram Jeet Banerjee urged the court to make it clear that it should not be construed that the proposal for taking up the projects was the bench's direction, but was just a proposal given by the builder.

 

The bench also asked the promoters of the Amarapali group not to leave the country.

Earlier on May 17, the apex court, in a major relief to over 42,000 homebuyers, gave its go ahead to three co-developers to complete the 12 stalled projects of embattled Amrapali Group in the next six months to 48 months time period.

The top court had asked the Amrapali Group to deposit Rs 250 crore in four weeks in an escrow account to be paid to co-developers on completion of the projects.

The six projects will cater to 27,000 to 28,000 hassled homebuyers.

The apex court had on May 10 spotted diversion of funds to the tune of over Rs 2,700 crore by the Amrapali Group and sought the details of financial transactions made by the company and its statement of accounts.

On April 25, the apex court had said it would like to be assured of the financial standing and credentials of a company which is willing to take over some of the projects of Amrapali Group, observing that the homebuyers "cannot be just thrown to a frying pan".

The Amrapali Group had then given the details of its ongoing housing projects, stages of work and the likely time to complete construction.

The company had earlier told the top court in an affidavit that it was not in a position to complete the projects and hand over possession of flats to over 42,000 homebyers in a time-bound manner.