Amrapali Group News

Former CMD of Amrapali Group of Companies Anil Kumar Sharma and others have been in jail for the past 4 years for allegedly siphoning home buyers' money. 

Former India captain MS Dhoni is one of the legends of the game but the Chennai Super Kings skipper is not far away from controversies. With the Supreme Court taking not of arbitration proceedings involving the former wicketkeeper, we take a look at some of the BIGGEST controversies involving MS Dhoni.

According to Amrapali homebuyers, over Rs 42 crore has to be recovered from MS Dhoni, which was allegedly paid as an endorsement fee by diverting the amount deposited by them.

The 7 banks are Bank of Baroda, Indian Bank, UCO Bank, PNB, Bank of India, SBI and Punjab & Sind Bank. Nearly 40,000 homebuyers are awaiting possession of their dream homes.

The company has already facilitated sales of 150 units for Rs 70 crore within just 30 days, the property consultant said in a statement.

Meanwhile, on October 25, the Supreme Court was told that the State Bank of India (SBI) and the UCO Bank have agreed to invest Rs 450 crore in Amrapali projects, but other banks, who were part of a consortium, are delaying the process.

The allotment of flats booked by these homebuyers will be "automatically cancelled" if the flat owners fail to register their name in Customer Data maintained by the court receiver and also do not start making payment within 15 days from the public notice issued on Thursday.

The Supreme Court said that around 2,000-2,500 flats will be ready by December 2021. Amrapali flat buyers have time till October 15 to pay the remaining dues.

Several homebuyers had bought these apartments many years ago, but they have not been paying deposits for completion of the projects.

The court-appointed receiver also contended that instead of payment of dues of NOIDA, the fund should be allowed to be used in completing the stalled projects of the now-defunct c The bench said that Mahagun Group can only be given the right to mortgage the land after the total amount of Rs 240 crore is deposited with the apex court Mahagun had earlier told the top court that they are willing to deposit Rs 35 crore by October 31 and the balance amount by April 30, 2021

In a relief to hassled home buyers of now-defunct Amrapali Group, the SBICAP Ventures had told the Supreme Court that it was ready to fund the stalled projects of embattled real estate firm The SBICAP Ventures told the top court that it would create SPV with the court receiver on board and would appoint a CEO to take over the construction of seven stalled projects The SC had capped the rate of interest at eight per cent to be charged by authorities on the outstanding dues of land against the exorbitant 15 to 23 per cent

The Supreme Court on Monday directed National Buildings Construction Corporation (NBCC) Ltd. to commence and complete the work of eight projects involving 11,258 home units in Noida and Greater Noida, and start handing over possession to the buyers.

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.

Supreme Court appointed receiver R Venkatramani along with the Amrapali Sapphire homebuyers and Noida authority will formulate a tripartite lease deed.

The apex court also warned that the officers of both the Authorities will be sent to jail if there is any delay on their parts in handing over possession of flats to buyers.

It is to be noted that Dhoni was once the brand ambassador of Amrapali Group and he had also signed contracts with other group companies.

Pronouncing its judgment in the case pertaining to pending projects of Amrapali Group, the Supreme Court on Tuesday faulted banks, Noida and Greater Noida authorities for the ongoing mess at the real estate company. Watch this video to know more.

Canceling Amrapali's Real Estate Regulatory Authority (Rera) registration, the apex court has asked state-run NBCC to complete pending projects of Amrapali Group.

The Supreme Court is expected to pronounce judgement in the case pertaining to pending projects of Amrapali Group on Tuesday. The top court contemplated various steps during the hearing to safeguard the interest of homebuyers of the Amrapali Group projects.

The Supreme Court on Wednesday came down hard on Amrapali Group and asked why all of its projects should not be handed over to Noida and Greater Noida authorities.