Amrapali Group
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All Stories for Amrapali Group
SC judgment in Amrapali Group case a welcome step, but opacity of Noida’s real estate market remains a problem
Pallavirebbapragada •Individual cases such as the one involving Amrapali Group are reaching the Supreme Court because at the local level, the mechanism of checks and balances is not there.
SC cancels registration of Amrapali group, appoints NBCC to complete pending projects; news brings relief to over 42,000 home buyers
•A bench of Justices Arun Mishra and UU Lalit also cancelled leases of Amrapali's properties granted by Noida and Greater Noida authorities and given them to NBCC. The court had asked the Noida authority to explain what action it has taken against the Amrapali group.
Supreme Court directs RERA to cancel Amrapali Group's registration; asks ED to conduct probe into fund diversion
Fp Staff •The ED will register money laundering cases against Amrapali, its chief managing director and other directors
Will throw Amrapali Group out and give ownership rights of properties to Noida and Greater Noida: SC
•It also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
Amrapali Group gave flats, penthouses as fees to lawyers; accepting fees in kind is violation of law: SC
•The court-appointed forensic auditors, detected siphoning of over Rs 400 crore by Surekha, MD of a listed firm, who according to them, is an authorised signatory of Amrapali in banks since 2016.
Daily Bulletin: Odisha, Andhra, Bengal brace for Cyclone Fani; politics erupts over Masood Azhar's listing as terrorist; day's top stories
Fp Staff •Today's top stories: Odisha, Andhra Pradesh and West Bengal brace for Cyclone Fani; politics has erupted over the timing of JeM chief Masood Azhar's designation as a UN terrorist; EC has issued a showcause notice to Rahul Gandhi; and more.
Amrapali Group committed first degree crime by cheating home buyers, will be booked and prosecuted, says Supreme Court
•Amrapali Group "cheated everybody including home buyers, banks and authorities and indulged in cartelization to prevent the Debt Recovery Tribunal from auctioning its unencumbered properties", SC said.
NBCC wants lenders to consider its bid on merit to acquire bankrupt Jaypee Infratech
•NBCC said it entered into the insolvency proceedings of Jaypee Infratech to provide relief to over 20,000 home buyers.
NBCC sweetens bid to acquire Jaypee Infratech, offers land parcels worth Rs 5,000 cr to lenders
•According to sources, NBCC has offered to pay Rs 500 crore upfront to lenders and would invest about Rs 2,000-2,500 crore as funding gap to complete delayed housing projects of Jaypee Infratech.
Amrapali Group fund diversion case: Supreme Court orders attachment of firm's five-star hotel, mall and FMCG company
Fp Staff •Amrapali Group CMD Anil Sharma, in an affidavit in the Supreme Court, revealed that he and his family members received crores of rupees over the years as ‘salary and professional charges