You are “liars” & worst kind of cheater, SC says while attaching 28 Amrapali properties

Amrapali Group

The Hush Post|9:20 am | three-minute-read

The Supreme Court ordered attachment and sale of its cinema hall, five-star hotel, malls and factories across India for not complying with its directions and also called the Amrapali Group liars and worst kind of cheater.
A bench of justices Arun Mishra and UU Lalit also ordered attachment of four of its corporate offices in Noida. The Debt Recovery Tribunal (DRT) was directed to auction the properties.
The bench also asked the firm’s directors and their family members to return customer’s money by December 10. Notices were also sent to the group chairman and managing director Anil Sharma, chief financial officer (CFO) Chandra Wadhwa and statutory auditor Anil Mittal as to why a case for criminal breach of trust should not be registered against them.
The SC is hearing a batch of petitions filed by home buyers who are seeking possession of around 42,000 flats.
Advocate ML Lahoty appeared for the homebuyers. He submitted that the company had defrauded the investors and should be prosecuted under criminal law.
He alleged the company had diverted around Rs 3,000 crore of hundreds of clients money for other purposes.
“You (Amrapali Group) are a worst kind of cheater in the world. You have cheated the home buyers all along and now you want to sell the facilities created for them. The facility area created for the home buyers is not a charity you have done to them,” the bench said after it was told that the real estate firm wants to sell a nursery school, an open space and a nursing home to raise funds.

On November 13, the court had attached company’s 100-bed multi-speciality hospital and several other properties including bank accounts

The firm also faced flak for non-compliance of the court’s direction.
”You are a perfect liar. You are a first degree liar and have not given specific information what we have asked for in our earlier orders. We are not satisfied with your affidavit and you have only tried to manipulate the things. Despite our nine orders, you have not given specific information about business transactions for period 2015-18,” Justice Mishra said.

The properties to be attached and auctioned forthwith by DRT include five-star hotel Amrapali Holiday Inn Tech Park at Greater Noida, a FMCG company called Amrapali Biotech and Mums situated in Rajgir and Buxar districts of Bihar, Amrapali Malls in Bihar’s Gaya and Muzaffarpur and Uttar Pradesh’s Bareilly, Hitech City movie hall at UP’s Meerut, Amrapali precast factory at Greater Noida and land in Purnia in Bihar and Bhubneshwar, apart from a villa in Goa.
Earlier, on November 13, the court had attached company’s 100-bed multi-speciality hospital. Also, bank accounts, the building which houses its office and a “benami” villa in Goa were attached.


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