SC orders attachment of Amrapali group's five star hotel, corporate office, other properties

Representational Image: Amrapali Silicon Valley

New Delhi: The Supreme Court on Wednesday directed Debt Recovery Tribunal (DRT) to attach Amrapali Group's five star hotel, corporate office, mall, FMCG company and other properties and sell them.

Issuing notices to Amrapali CMD and directors, the court asked as to why a criminal case against them should not be initiated.

Posting the matter for next hearing on December 12, the apex court told to submit all the documents between 2015-2018 to forensic auditor by Monday. The court also asked NBCC regarding its plans to complete the stalled projects of Amrapali group.

In a massive crackdown the Group for "wilful disobedience" of its orders, the Supreme Court on last month 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.

The court is seized of a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats booked in projects of the Amrapali Group.

On October 31, the apex court had directed the Amrapali Group to disclose the names of all the companies with which it had any kind of transactions after forensic auditors pointed out that there may be a web of more than 200-250 such firms where home-buyers' money was transferred.

The two forensic auditors, appointed by the court to look into the affairs of Amrapali Group had said besides 47 sister companies, they stumbled upon 31 companies whose names were never disclosed by the embattled real estate firm.

The court was also told that there may be a case of the Foreign Exchange Management Act (FEMA), as large amount of money was transferred to a multinational company based in Mauritius.

With PTI Inputs