Supreme Court Orders Attachment Of Amrapali Hotel, Malls, FMCG Firm

By SM.05 Dec, 2018





NEW DELHI: Asking why criminal proceedings should not be initiated, the Supreme Court, on Wednesday, ordered attachment of assets of the embattled real estate group, Amrapali. The order of the court relates to the case of non-delivery of flats to around 42,000 homebuyers. The court also asked Amarpali to hand over, by Monday, all papers from 2015 to 2018, to forensic auditors. Among the assets that will be attached are a five star hotel, malls, an FMCG company, a corporate office, and luxury cars , among other properties.

The top court also asked the debt recovery tribunal to sell the attached properties.

The next hearing of the case is scheduled for 12 December.

Earlier, the Supreme Court warned the developer to reveal, by December 3, details of all its properties in the name of directors, their family members, relatives, chief financial officers and statutory auditors.

The court had also ordered Amrapali"s chief financial officer Chander Wadhwa to deposit Rs. 11.69 crore with its registry, when it had attached the company"s 100-bed multi-speciality hospital, bank accounts, the building which houses its office, certain firms and a "benami" villa in Goa.