SC asks for attachment of bank accounts, movable properties of Amrapali Group firms

New Delhi: The Supreme Court today expressed displeasure on Amrapali Group of companies for playing “fraud” and “dirty games” with the court and ordered attachment of all bank accounts and movable properties of 40 firms of the real estate major.

The apex court also directed Amrapali Group of companies, which are yet to hand over possession of flats to around 42,000 hassled home buyers, to place before it details of all its bank accounts from 2008 till today and ordered freezing of bank accounts of all the directors of its 40 firms besides attaching their personal properties.

While taking note of alleged diversion of Rs 2,765 crore funds collected from the investors by the group, a bench of justices Arun Mishra and U U Lalit said it prima facie amounted to criminal breach of trust and it would deal with the issue after hearing the parties.
The court said that the group companies shall not be entitled to deal with either the bank accounts or the movable properties in any manner whatsoever without its permission.
The bench also took umbrage as to how the National Buildings Construction Corporation (India) Ltd has issued advertisement inviting co-developers for doing the work related to Amrapali group without taking approval of the apex court.
The apex court summoned the chairman of NBCC (India) Ltd and the secretary of Ministry of Housing and Urban Affairs for tomorrow to explain their stand on the issue observing that the “unfair” move by the corporation was apparently to “scuttle” the court’s order.

It directed Amrapali Group to place before it the names of chartered accountants (CAs), both external and internal, who were handling the accounts of these 40 firms.

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