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SC orders release of Rs 7.16 crore to NBCC for completion of pending Amrapali projects

SC has also ordered the that the report of the forensic audit be submitted to the ED, Delhi Police and ICAI so that strict action can be initiated against Amrapali group directors and its auditors.

SC orders release of Rs 7.16 crore to NBCC for completion of pending Amrapali projects
Representational Image: Amrapali Silicon Valley

New Delhi: The Supreme Court on Monday ordered release of Rs 7.16 crore from its registry fund to the National Buildings Construction Corporation (NBCC) for carrying out completion work for the pending projects of Amrapali Group.

Earlier, the apex court had made Amrapali group deposit the amount in its registry.

The top court has also ordered the that the report of the forensic audit be submitted to the Enforcement Directorate, Delhi Police and the Institute of Chartered Accountants in India (ICAI) so that strict action can be initiated against Amrapali group directors and its auditors. SC has ordered Noida and the Greater Noida Authority to constitute a Nodal cell which will be responsible for issuing completion certificates to homebuyers..

Bringing relief to 42,000 Amrapali homebuyers, the Supreme Court in July had ordered ED to probe the alleged money laundering by the builder and appointed the state-run NBCC, as a project management consultant, to complete the unfinished projects.

The apex court had also cancelled the Real Estate (Regulation and Development) Act (RERA) registration of the Amrapali Group. It appointed R Venkataramani as a court receiver, who was entasked to manage the realtor's accounts, administration, and facilitate the registration of the group's flats.