In a major relief to almost 40,000 homebuyers, the Supreme Court on July 23 cancelled the RERA registration of Amrapali Group projects. It also called upon NBCC to take over all stuck projects.
The lease deed with regard to projects by authorities also stands cancelled, and the same has been handed to court receiver and senior advocate CR Venkatramani.
As per the ruling, dues to authorities will be recovered from sale of properties attached by the Court.
Buyers will pay the balance sale consideration to UCO Bank, which will be kept in a fixed deposit and shall be used by NBCC for completing the construction.
The court has asked all concerned government authorities to investigate FEMA violation and money laundering by the Amrapali Group. It also wants the Institute of Chartered Accountants of India (ICAI) to conduct proceedings against statutory auditor Anil Mittal and report back to the court in six months.
It directed Venaktramani to ensure that the title is passed and possession given to buyers. It also asked authorities to issue a conveyance deed, irrespective of the dues pending to them.
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