New Delhi: The Supreme Court on Wednesday ordered the attachment and sale of Amrapali Group’s five-star hotel, cinema hall, malls and factories across India for not complying with it’s direction. Calling the realty firm as the “worst kind of cheater” and “a perfect liar”, the top court ordered the Debt Recovery Tribunal (DRT) to auction its four offices located in Noida and Greater Noida.
The directors of the firm were asked to return the home-buyers’ money to the tune of around Rs 3,000 crore by December 10. The top court also sought the reason behind diverting the money for other purposes.
A bench comprising Justices Arun Mishra and UU Lalit issued a notice to the Amrapali Group CMD Anil Sharma and its directors, Chief Financial officer and statutory auditor Anil Mittal, asking them why a criminal case for breach of trust should not be lodged against them.
The real estate firm had allegedly planned to sell a nursery school, an open space and a nursing home to raise funds. Responding to this fact, the bench said, “You (Amrapali Group) are a worst kind of cheater in the world. You have cheated the home buyers all along and now you want to sell the facilities created for them. The facility area created for the home buyers is not a charity you have done to them.”
The bench also gave a time limit of 24 hours to hand over the raw data files which carry the business transactions of the company including the vouchers, receipt and the required authorisation for the period of 2015-18, to the forensic auditors appointed by the court.
On November 13, in a massive crackdown on Amrapali Group for “wilful disobedience” of its orders, the apex court had attached the company’s 100-bed multi-speciality hospital, bank accounts, the building which houses its office, certain firms and a “benami” Villa in Goa. It had asked the CFO to deposit Rs 11.69 crore with its registry within three weeks. It also asked a statutory auditor Anil Mittal to pay Rs 47 lakh. It restrained the realty firm from alienating its companies through which it had transactions and ordered attachment of such firms.
The top court has also restrained Amrapali Group from creating any third party rights for 86 luxury cars and SUVs purchased from the company’s funds.
(With Agency inputs)