Good news for Amrapali homebuyers! Supreme Court has directed Noida and Greater Noida authorities to begin flat registration of Amrapali homebuyers immediately.
Warning the authorities, the top court said the authorities would be jailed in case of delays.
Both the authorities informed the apex court that a special cell had been constituted for the Amrapali case, and certain officers were appointed for the same.
They assured the court of no further delays in the matter.
Promoters and top officials of realty firm Amrapali Group diverted homebuyers' money for personal benefits and building their own empire.
An audit report revealed that around Rs 3,500 crore of homebuyers' money was diverted by the Amrapali top brass. According to the auditors, the money was spent on houses, luxury cars and weddings among others and also invested in shares and mutual funds.
However, as per the auditors, it is possible to raise the required funds to complete the Amrapali projects. For this, they said the money diverted will have to be brought back and several other assets of the group will have to be sold. A total of around Rs 9,590 crore can be recovered from the group, noted the auditors.