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SC asks DRT to start auction of Amrapali Group’s properties

New Delhi

The Supreme Court on Wednesday asked DRT to begin the process of auction of 16 properties of the Amrapali Group. The apex court has directed the directors of Amrapali group to be present before the DRT on September 25.

The SC has also asked Amrapali Autitor to co-operate with the court appointed audits and asked the realty company to submit documents related to its account and properties for forensic audits . Court has posted the matter for next hearing on September 27.

The 16 properties to be sold by auction are Amrapali Homes at Vrindavan, Amrapali Homes Projects Pvt Ltd at Indore, Amrapali Homes Project Pvt Ltd and Bhubaneshwar, Sangam Colonizer, Jaipur, Hi-tech City, Jaipur, Ultra Home Construction Pvt Ltd at Sikkim, Udaipur, Raipur and New Raipur.

Other projects to be sold by auction include unlaunched part of Amrapali Leisure Valley and Amrapali Leisure Valley Commercial in Greater Noida, unlaunched part of Amrapali Centurial Park Pvt Ltd and Amrapali Centurian Park Commercial.

Earlier, the apex court had assured state-run NBCC of funds to complete 46,575 flats of crisis-hit Amrapali Group at an estimated cost of Rs 85 billion and favoured a forensic audit of balance sheets of the private realtor to assess the extent of siphoning of funds by them.

The NBCC had given a proposal for completion of 15 residential projects of Amrapali having 46,575 flats at an estimated cost of Rs 85 billion in 6-36 months.

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