The Supreme Court admits all homebuyers' petitions in Amrapali case

Posted On : February 01, 2018

The Supreme Court has admitted all petitions filed by the homebuyers’ in respect of Amrapali Group. The bench consist of two members namely;Justices Arun Mishra and M Shantangoudar. The next date of hearing on the case has been fixed for January 31. As per the Apex Court directive, Amrapali has also deposited 10 percent of the outstanding amount due with Greater Noida authority. Legal sources said that as per the claim filed by Noida Authority with the resolution professional, the real estate firm owes it Rs 650 crore. All requests for interim relief have been declined by the SC. Meanwhile, the Noida Extension Flat Owners’ Welfare Association (Nefowa),hasalso moved a petition for a few more projects belonging to the embattled Amrapali Group — Centurian Park,Amrapali Dream Valley and Amrapali Leisure Valley projects that include Verona Heights, Jaura and Adarsh Awas Yojna. Their plea is thatbuyers be given the status of secured financial creditors and their rights againstany future insolvency against the company be secured.