Monday 16 September 2019
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business-standard - 5 days ago

SC warns Amrapali homebuyers on dues, says projects will be wound up

The Supreme Court warned the homebuyers of now defunct Amrapali Group on Wednesday that their unwillingness to pay the outstanding dues may lead to winding up of the stalled projects due to financial crunch. The top court cleared the modalities by which the homebuyers can be put to notice for clearing outstanding amounts after being validated by the court receiver appointed by the apex court. It observed that it would not allow the ghost buyers , who had purchased flats from Amrapali Group at a nominal price to step in by allowing them pay the outstanding amount and their registration of flats will be annulled. A bench of Justices Arun Mishra and U U Lalit said, If home buyers are not ready to pay their outstanding amount, then we will have to bundle up the projects . Advocate Shobha, appearing for a homebuyer, said that her project Amrapali Leisure Park falls under category-C, and as per the builder-buyer agreement the payment plan was linked to the construction. Till now nothing .

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