No loan pending on us, corporate office not getting auctioned: Amrapali Group

New Delhi: Issuing a clarification on its financial condition, prominent real estate group Amrapali on Monday responded saying that the news reports about its corporate office getting auctioned on August 18 are untrue.

Anil Kumar Sharma, Chairman, Amrapali Group, issued a statement on Monday rubbishing the reports saying, “we have no loan from HDFC Bank, hence no question of auction of my corporate office from the said bank.”

He also claimed that there is no question of 19000 cores loan pending on Amrapali Group from any institution or debtor.

“We have never filed any insolvency petition in any court of law,” added Sharma.

The group also shared that it has always been with affordable home buyers and delivered more than 10,000 home buyers in affordable segment.

On Sunday, news about Amrapali Group's financial instability sent shock waves among the buyers. The reports in media alleged that due to inability of the real estate group to repay its loan amount pending with HDFC bank, it was served an auction notice. As a result, the group's corporate office located in sector 62 was being auctioned on August 18 by the bank.